First HoldCo Plc has announced the completion of its divestment of 100% ownership in FBNQuest Merchant Bank Limited to EverQuest Acquisition LLP.
The transaction was finalised after obtaining all necessary regulatory approvals from the Central Bank of Nigeria (CBN).
In a notice to the Nigerian Exchange Limited (NGX), First HoldCo informed the public and investors of the completion of the sale.
The company stated that it has successfully divested its entire stake in FBNQuest Merchant Bank Limited, marking a significant change in the bank’s ownership structure.The terms of the deal were not disclosed in the notice.
The completion of the transaction is expected to have implications for the bank’s operations and future direction.
FBNQuest Merchant Bank Limited is expected to operate under new ownership, and stakeholders are likely to be watching the bank’s future developments closely.
The announcement was signed by Abiola Baruwa, Group Company Secretary of First HoldCo Plc.
The company will provide further updates on the implications of the sale as necessary.
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