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Merger and Acquisition

Elon Musk Reportedly Monitoring The Situation Regarding Manchester United Sale

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According to recent reports, Tesla and Twitter CEO Elon Musk is currently monitoring Manchester United’s sale and could make a move to buy the club.

Reports suggest that Musk who is an ardent supporter of Manchester United doesn’t want to miss out on a potential opportunity to invest in one of the biggest football clubs in the world.

Musk last year tweeted about his interest in purchasing the club when it was faced with a crisis until he later debunked the news stating that it was a joke.

Still, even after dismissing the prospect of riding in to save United, Musk has left the possibility dangling that he might make a bid for the Old Trafford boardroom one day by revealing his childhood fandom of the club.

The English Premier League club has been put up for full sale after American family (Glazers), are reportedly ready to sell their full stake in the club amid sustained fan discontent.

The Glazers asking price is understood to be around the £8 billion ($9.8 billion) mark and have set a soft deadline for prospective bids to be made latest this Friday.

English billionaire and Chief Executive Officer of INEOS chemicals group Sir James Arthur Ratcliffe is reportedly the only person to publicly declare interest in buying the club.

Ratcliffe is reported to have supported united as a boy and is understood to remain a fan, hence making it no secret that he would be interested in buying the Old Trafford club.

It is interesting to note that he was among bidders for Chelsea football club when the former owner Roman Abramovich put it up for sale following controversies during the Russian-Ukraine war, but his offer of £4.25bn was rejected.

Also, there have been other expressions of interest, from several U.S investors, and Qatar-based groups, with Saudi and other money from the Middle East, understood to be focused on the club.

Investors King understands that Manchester United was put up for sale last year when the Glazers, who have been at the helm of affairs for 17 years, ordered a strategic review.

Their tenure proved controversial with fans from the off because of the level of debt they placed on the club’s books, a burden which many argue has hampered investment in the team, stadium, and wider facilities ever since.

It was reported that the sale of Manchester United was necessitated after the club’s icon and five times Ballon d’Or winner Cristiano Ronaldo called out the owners on the poor management of the club facilities amid other things.

Ronaldo in an interview with British veteran journalist, Piers Morgan called out the owners over poor handling which he believes had a negative impact on the club’s performance.

He said “The Glazers, they don’t care about the club. I mean, professional sport, as you know, Manchester is a marketing club.”

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Merger and Acquisition

Access Bank Plc to Acquire National Bank of Kenya Limited in Landmark Deal

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Access Bank PLC, a leading financial institution based in Nigeria, has unveiled plans to acquire National Bank of Kenya Limited (NBK) in a landmark deal.

The acquisition announced by Access Holdings Plc, the flagship subsidiary of Access Bank, signifies a significant move in the bank’s African expansion strategy.

Under the binding agreement, Access Bank will acquire the entire issued share capital of NBK from Kenyan-based KCB Group Plc (KCB), which also serves as the holding company of KCB Bank Ltd, Kenya’s largest commercial bank.

This strategic transaction is aimed at repositioning Access Bank as a prominent player in the Kenyan market and establishing it as a regional hub for the East African bloc.

The deal with NBK, known for its strong presence and substantial balance sheet exceeding US$1.1 billion, presents an enticing opportunity for Access Bank to expand its footprint in the East African market.

The completion of the transaction is subject to regulatory approvals from the Central Bank of Nigeria and the Central Bank of Kenya.

Upon finalization, NBK will be integrated with Access Bank Kenya Plc to form an enlarged franchise, advancing Access Bank’s strategic objectives for the Kenyan and East African markets.

Commenting on the Transaction, Ms. Bolaji Agbede, Acting Group Chief Executive Officer of Access Holdings Plc said: “This proposed acquisition marks a significant step in the execution of our five-year strategic plan aimed at positioning the Bank as Africa’s Gateway to the World. The deal with NBK, a historically strong and well-known bank in Kenya with a balance sheet in excess of US$1.1 billion, presents a compelling opportunity to scale up our growth in the East African market. We remain confident that our investments towards diversifying and strengthening the Bank’s long-term earnings profile will deliver significant value for our shareholders, customers, and wider stakeholder groups.”

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Merger and Acquisition

Foreign Investor Eyes 7% Stake in LivingTrust Mortgage Bank Plc

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LivingTrust Mortgage Bank Plc is on the brink of a significant financial move as reports indicate a foreign investor’s interest in acquiring a seven percent stake in the institution.

According to industry insiders familiar with the matter, the prospective investor is poised to proceed with the regulatory formalities following the completion of due diligence.

The potential investment is anticipated to provide a substantial capital injection for LivingTrust Mortgage Bank Plc, paving the way for enhanced operational capabilities and strategic growth initiatives.

However, as of the time of reporting, the specifics of the investor and the financial terms of the deal remain undisclosed, pending regulatory filings and approvals.

This development comes on the heels of the recent appointment of Dr. Olumide Adedeji as the new Managing Director of LivingTrust Mortgage Bank Plc, effective March 7, 2024.

Dr. Adedeji, a seasoned finance professional with a wealth of experience garnered from esteemed institutions such as Standard Chartered Bank, FCMB, and Diamond Bank, among others, is poised to steer the bank through this potential transformative phase.

While the transaction awaits official confirmation, industry analysts speculate that the investment could signify a vote of confidence in the bank’s prospects and the broader Nigerian financial landscape.

Furthermore, it underscores the appeal of Nigerian financial institutions to foreign investors seeking strategic opportunities in emerging markets.

The move aligns with LivingTrust Mortgage Bank Plc’s commitment to fortifying its position in the market and unlocking value for its stakeholders amidst a dynamic economic environment.

As the regulatory processes unfold, stakeholders eagerly anticipate the potential implications of this strategic partnership on the bank’s trajectory and the broader financial ecosystem.

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Merger and Acquisition

EnjoyCorp Limited Secures Strategic Acquisition of Champion Breweries Plc

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Champion Breweries

EnjoyCorp Limited, a conglomerate known for its ventures in food, beverage, and hospitality, has successfully secured a strategic acquisition deal with Heineken B.V.

The agreement entails EnjoyCorp acquiring 100% of Heineken’s shareholding in The Raysun Nigeria Company Limited, which holds an 86.5% stake in Champion Breweries Plc, a prominent regional brewer listed on the Nigerian Exchange Limited (NGX).

The transaction, subject to regulatory approvals, is anticipated to conclude in the second quarter of 2024.

Heineken will extend its support to Champion Breweries for a year post-acquisition, ensuring a seamless transition of ownership.

This acquisition marks EnjoyCorp’s strategic entry into the beverage sector, aligning with its vision of catering to the diverse tastes of the African consumer market.

By integrating Champion Breweries as an anchor subsidiary, EnjoyCorp aims to strengthen its foothold in the industry.

EnjoyCorp, known for its mission to enrich life’s moments through quality brands and sustainability, sees this acquisition as a pivotal step in its journey toward transformative growth.

With a focus on innovation and community engagement, EnjoyCorp endeavors to inspire consumers to cherish life’s moments responsibly.

The acquisition underscores EnjoyCorp’s commitment to shaping the future of the beverage industry in Africa.

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