FBN Holdings Trades FBNQuest Merchant B.To EverQuest

FBN Holdings Plc has announced the sale of its entire 100 percent equity stake in FBNQuest Merchant Bank Limited to EverQuest Acquisition LLP.
This move aligns with FBN Holdings’ strategy to streamline its portfolio within the group.
The transaction, disclosed in a notice to the Nigerian Exchange Limited (NGX) on Friday, September 7, 2024, is subject to regulatory approvals.The notification was signed by Mr. Adewale Arogundade, Acting Company Secretary of FBN Holdings Plc.

EverQuest Acquisition LLP, a consortium consisting of Custodian Investment Plc, Aion Investment, and Evercorp Industries, emerged as the preferred bidder after a competitive bidding process.

The official statement from FBN Holdings reads: “We hereby notify the Nigerian Exchange Limited (NGX) and the investing public that FBN Holdings Plc has entered into a share sale and purchase agreement to divest its 100 percent equity stake in FBNQuest Merchant Bank Limited. This sale aligns with the company’s strategy to optimise its portfolio within the group. EverQuest Acquisition LLP, comprising Custodian Investment Plc, Aion Investments, and Evercorp Industries, was selected as the preferred bidder following a competitive bid process. The completion of the sale is subject to approvals from the relevant regulatory authorities.”