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
Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.