Mergers & Acquisitions | |
Mergers & Acquisitions | |
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Friday,
June 26, 2020 / 01:20
PM / by CardinalStone Research/ Header Image Credit: Ecographics
Proposed acquisition of AIICO Pension could be positive
FCMB Group Plc
(FCMB) - TP N2.00 (HOLD) has announced ongoing conversations for a potential
acquisition of AIICO Pension Managers Limited (AIICO Pensions) by its
subsidiary, FCMB Pension Managers Limited (FCMB Pensions). According to the
statement, the deal would involve FCMB Pensions acquiring the 70% stake held by
AIICO Insurance Plc and 26% of minority-controlled shares.
Initial assessment
We view the potential acquisition as a positive move;
a statement of intent from FCMB's management to leverage on its non-banking
businesses to drive overall profitability.
Broadly, we expect the proposed acquisition to have the following impact on FCMB:
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