Deal: Resourcery Consultancy Services Completes 75% Acquisition of Great Nigeria Insurance
- About 21, 2.87 billion units representing 75% equity shareholding of Great Nigeria Insurance were crossed to Insurance Resourcery Consultancy Services Ltd on Friday.
- The deal consumated by Wema Asset Management will see Resourcery Consultancy Services take controlling equity of the Insurance company.
- The deal has taken about 6 years to conclude dating back to 2011 when a competitive bid was carried out for the shares.
- GNI is a 56 year old insurance company In Nigeria and also one of the oldest around.
- Wema Bank Plc and The Odua Group were strategic investors in GNI.
- Resourcery Consultancy services Ltd is a Special Purpose Vehicle (SPV) set up specifically to acquire shares in GNI