Wednesday, July 30, 2014/ Share Support Service
Greenwich Trust Limited, an investment banking firm that provides financial advisory services as well as mergers and acquisitions advisory services recently add registrars’ services to its boutique investment services with the acquisition of Union Registrars Ltd.
The acquisition which was confirmed by a staff of the firm via a telephone conversation is the latest of its kind in the industry after Cardinal Stone Partners Ltd also completed the acquisition of City Securities (Registrars) Ltd in 2013.
The divestment of Union Bank Plc from its non-banking subsidiaries is as a result of the Central Bank of Nigeria (CBN) directives to all banks to divest from their non-banking subsidiaries and focus on their core areas of expertise.
The Union Bank board eventually resolves to divest its shares in its subsidiaries, with the exception of Union Pension Custodian Limited, which will be wound up and Union Bank UK Plc which will be retained as the only subsidiary of the Bank.