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FBN Holdings denies Otedola’s acquisition

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FBN Holdings (FBNH) Plc has denied the purported acquisition of a majority stake in the company by Mr Femi Otedola.

The News Agency of Nigeria reports that the company in a statement pasted on the website of the Nigerian Exchange Ltd. said it was yet to receive any notification of the purported acquisition.

“The attention of FBNH has been drawn to media reports of today, Oct. 22, purporting that a certain individual has acquired significant shareholding interest in FBN Holdings, making him the majority shareholder in the company. It added that the company operated in a regulated environment, which required notification of significant shareholding by shareholders to the company, where shares were held in different vehicles, further to which the company would notify the regulators and the public as appropriate.

“FBN Holdings Plc will always notify the appropriate agencies and authorities whenever it receives any notice of significant shareholding by the shareholders and the company’s registrars,” continued the statement.

 

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