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The holder of the biggest stake in Union Bank of Nigeria is contemplating its future with the Lagos-based lender, as its 49.97 per cent ownership has received acquisition offers from domestic bidders, Bloomberg has reported, citing insiders familiar with the subject.
Early interests in the shareholding of Atlas Mara, a financial services holding company, quoted on the London Stock Exchange, are coming from local banks intent on widening their reach in the Nigerian market, according to sources pleading anonymity because negotiations are still under wraps.
Atlas Mara is currently engaging financial advisor Rothschild & Co. but the deal could be consummated as an outright sale or take another direction as the landscape of a definite takeover is not yet clear.
Stock market gains N50bn on blue-chip firms
Johnson Okafor
Equity trading on the floor of the Nigerian Stock Exchange on Wednesday closed on a positive note with a gain of N50bn to halt the previous two days’ losses.
The NSE All-Share Index appreciated by 0.23 per cent with market breadth closing positive with 55 gainers as against 16 losers.
The ASI gained 96.09 basis points or 0.23 per cent to close at 41,147.72 as against 41,051.63 recorded the previous day while the market capitalisation of equities appreciated by N50bn or 0.23 per cent to close at 21.52tn from N21.47tn as market sentiment returned to the green zone.
Lafarge Africa Plc has announced its plans to divest its 35 percent stakes in Continental Blue Investment Ghana Limited.
The cement company said this decision was reached after an emergency meeting of the Board of the company held on Wednesday, 20th January 20, 2021.
This was disclosed in a public notice signed by the General Counsel & Company Secretary, Mrs. Adewunmi Alode, on the Nigerian Stock Exchange on Thursday,
The company said, “Pursuant to the emergency meeting of the Board of Lafarge Africa Plc held today, Wednesday, 20th January 2021, the Board resolved and hereby notifies the Nigerian Stock Exchange of its decision to divest its 35 percent shareholding in Continental Blue Investment Ghana Limited.
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