FCMB Announces the Proposed Acquisition of AIICO Pension Managers Limited

Friday, June 26, 2020 / 11:55 AM / NSE / Header Image Credit: Ecographics

FCMB Group Plc (FCMB Group) hereby notifies the Nigerian Stock Exchange ("NSE") and the investing public that its pension management subsidiary, FCMB Pensions Limited ("FCMB Pensions") has entered into discussions with shareholders of AIICO Pension Managers Limited ("AIICO Pensions"), to acquire the 70% stake held by AIICO Insurance Plc and 26% held by some other shareholders in AIICO Pensions. The proposed acquisition will make AIICO Pensions an indirect subsidiary of FCMB Group Plc.

The proposed transaction is subject to the approvals of the National Pension Commission and the Federal Competition and Consumer Protection Commission.

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