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Otedola confirms acquisition of stakes in Transcorp

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Billionaire businessman, Femi Otedola, has confirmed the acquisition of shares in the indigenous conglomerate, Transcorp Corporation Plc.

In the notice filed signed by the Company Secretary, ‘Funmi Olofintuyi, with the NGX on Thursday, Transcorp said that it welcomes the investment.

“As noted in our previous communication, the Company welcomes this expression of confidence in its leadership and management as we continue our unwavering commitment to superior stakeholders’ returns, anchored in our ideology of Africapitalism.

Over the weekend, there were also reports that Otedola had acquired more shares in the conglomerate, bumping his stakes to over six per cent. Meanwhile, some shareholder groups have hailed the acquisition of shares in Transcorp by Otedola. They also advised the business mogul to work with the existing shareholders to move the conglomerate forward.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

 

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