FBN Holdings Plc has informed its stakeholders and the general public about ongoing talks regarding a planned divestment of its 65% stakeholding in FBN Insurance Ltd.
According to a brief statement that was sent to the Nigerian Stock Exchange, FBN Holdings explained that its entire holdings in the subsidiary would be sold to Sanlam PTY Limited. Sanlam PTY already owns a 35% stake in FBN Insurance.
While the divestment talks with Sanlam PTY continues in the meantime, FBN Holdings is also engaging the necessary regulatory bodies in this regard.
The statement by FBN Holdings also informed stakeholders that further announcements will be made as the discussions progress.
“We are engaging the regulators on this matter and further announcements will be made as the discussions progress. Please direct all enquiries to the Chief Financial Officer, FBN Holdings Plc, Wale Ariyibi,” the statement reads in parts.
More details shortly…