Merger and Acquisition
FBN Holdings to Acquire Access Pension Fund Custodian Limited
FBN Holdings Plc on Wednesday announced it entered into a definitive agreement with Access Bank Plc to acquire 100% Share Capital of Access Pension Fund Custodian Limited held by Access Bank Plc.
The acquisition would be done through First Pension Custodian Limited, a subsidiary of FBNH, the bank disclosed this in a statement signed by Adewale L.O Arogundade, Ag. Company Secretary and obtained by Investors King.
According to FBN Holdings, the Central Bank of Nigeria and the National Pension Commission have given their no objection to the transaction, with completion subject to the receipt of all required regulatory approvals.
The statement reads, “FBN Holdings wishes to notify Nigerian Exchange Limited and investing public that First Pension Custodian Limited, a subsidiary of FBNH’s flagship subsidiary, First Bank of Nigeria Limited has entered into a definitive agreement with Access Bank Plc for the planned acquisition by First Pension of 100% Share capital of Access Pension Fund Custodian Limited held by Access Bank Plc.