FCMB set to own Legacy Pension Managers

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The report goes thus:

LAGOS, NIGERIA – 23 October 2017: FCMB Group Plc (Bloomberg: FCMB) hereby notifies the Nigerian Stock Exchange (“NSE”) that FCMB Group Plc (“FCMB”) has entered into an agreement with other shareholders of Legacy Pension Managers Limited (“Legacy”), for the acquisition of an
additional 60% stake in Legacy. The proposed acquisition will increase FCMB’s interest in Legacy to 88.2%, thus making Legacy a subsidiary of FCMB.

The proposed transaction is subject to the approvals of the Central Bank of Nigeria, the National Pension Commission and the Securities and Exchange Commission.

We shall notify the NSE once the relevant approvals for the transaction are received.

Read full letter Here