September 9, 2024/NGX

“In accordance with the Nigerian Exchange Limited (NGX) Rulebook, we hereby notify the Nigerian Exchange Limited (NGX) and the investing public that CUSTODIAN INVESTMENT PLC (the Company) through EverQuest Acquisition LP (comprising Custodian Investment Plc, Aion Investment and Evercorp Industries) has entered into a Share Sale and Purchase Agreement to purchase 100% equity stake in FBNQuest Merchant Bank Limited, a wholly owned Subsidiary of FBN HOLDINGS PLC. This purchase is in alignment with the Company’s long-term strategy to build a robust Investment Group. 

Following a competitive bid process, EverQuest Acquisition LP was selected as the preferred bidder. The completion of the sale is subject to approvals from the relevant regulatory authorities.” 

Recall that FBNH announced in a Friday notice on NGX that it had completed divesting from FBNQuest Merchant Bank Limited and now awaits regulatory approvals to conclude the strategic move.