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Mergers and Acquisitions, deal making, takeovers

FCMB Acquires additional stake in Legacy Pension Managers

In a notice sent to the Nigerian Stock Exchange today, FCMB Group has announced the acquisition of a 60% stake in Legacy Pension Managers....

As critics mutter brain drain, Andela raises $40million in Series C funding

Andela raises $40million in Series C financing to aggressively expand, double talent pool Andela has raised an additional $40 million in a third venture capital...

Interswitch has partnered with this company to disrupt the microloan space

Ferratum Group has announced the launch of a microloan scheme in partnership with payment processor Interswitch. Intwerswitch will be partnering with 5 banks in...

Dangote confirms PPC Acquisition rumor… says 2 banks are willing to fund it 100%

CEO and founder of Dangote Industries, Alhaji Aliko Dangote, yesterday had talks with Francine Lacqua at the Bloomberg Global Business Forum at the Plaza...

Why Dangote’s South African latest target may lead to a bidding war

Dangote Cement may be in for a bidding war as Canada’s Fairfax Africa investments has signaled its intentions to raise its bid offer for...

Deal: Allianz acquires stake in Nigerian insurance firm

German insurance giant Allianz has acquired a 98% stake in Ensure insurance. Terms of the deal where however not disclosed. Two other firms Wapic...

Chevron signs-up Caverton with a new deal

Caverton Helicopters Limited, a subsidiary of Caverton Offshore Support Group Plc. has secured a contract from Chevron Nigeria Limited (CNL), for provision of aviation...

Acquisition: Total to buy Maersk Oil for $7.45 billion

Maersk Oil, a Danish oil and gas company owned by the A. P. Moller-Maersk Group, is set to sell off its oil and gas...

Zenith Bank has taken a cover on 30% of its 9mobile loan – CEO

The Chief Executive of Nigeria’s Zenith Bank, Peter Amangbo said on Monday that the bank has made a provision on 30% of its loan...

iflix secures additional $133 million funding

iflix , the world’s leading Subscription Video on Demand (SVoD) service for emerging markets, today announced it has completed a $133 million funding round...

Deal: Lafarge board approves merger with UNICEM and ATLAS Cement

The board of directors of Lafarge Africa has approved the commencement of a merger with United Cement Company (UNICEM) and Atlas Cement Company (ATLAS). This...

Deal: Flutterwave raises $10 million in venture capital

Flutterwave Inc. recently announced to its community that it has secured a new capital of $10 million from Greycroft Partners, Green Visor, Y Combinator and...

Verod Capital acquires ‘minority stake’ in Greensprings Private School

Nigerian based Private Equity firm, Verod Capital Management has acquired a "minority" stake in Greensprings, one of Nigeria's leading private schools. This was made...

The key numbers behind FBNH 2017 Half year results

FBN Holdings Plc on Thursday announced its unaudited results for the six months ended 30 June 2017. Here are key highlights of the results Income Statement ...

Flour Mills increases shareholding in Rom Oil Mills to 95%         

In a notice sent to the Nigerian Stock Exchange (NSE) this week, Flour Mills Nigeria (FMN) announced the acquisition of an additional 5% stake...

Zenith Bank sells stake in Life Insurance firm to Prudential UK

In a press release to investors and the general public, UK based Prudential Plc has announced the acquisition of a significant stake in Zenith...

MTN’s proposed acquisition of Multichoice Africa is deal and a half

Even though both parties are yet to issue a formal statement, sources close to South Africa based MTN communications have confirmed that discussions between...

Staco Insurance raises N1.6 billion via private placement

Back in February, 2017 Nairametrics analysts reported heavy trades on the Nigerian Stock Exchange for Staco Insurance, a company that hitherto had next to...

Deal: Yudala Continues Offline Expansion With Yes Mobile Takeover

Nairametrics| E-commerce Company, Yudala has continued the growth of its offline market presence with the acquisition of Yes Mobile, a cosmopolitan high-value retail outfit...

Sale of Dangote Noodles: Will History Repeat Itself ?

Nairametrics|Dangote Flour Mills on Tuesday, announced that it has exited its noodles business and has sold the assets of Dangote Noodles to Dufil Prima...

Deal: AFC Issues $500 Million 7 Year Bond

PRESS RELEASE: LAGOS, Nigeria, 11 April, 2017-/African Media Agency (AMA)/- Africa Finance Corporation ('AFC'), a leading pan-African multilateral development finance institution and project developer,...

Deal: Sigma Golf Acquires Keystone Bank; What We Know So Far

Nairametrics| The Asset Management Corporation of Nigeria has announced the sale of Keystone Bank Plc (formerly Bank PHB). The bank was sold to Sigma Golf...

Analysis: TA Associates Acquisition Of A Stake In Interswitch

Nairametrics | The internet revolution in Nigeria has been a massive catalyst for the economic development of Nigeria. It gave rise to an online...

Deal: Silvertree Acquires Nigeria’s TopCheck

Nairametrics| Silvertree has acquired Nigeria’s TopCheck, forming Africa’s largest price comparison group TopCheck is Nigeria’s leading price comparison site for financial services offering free online...

Deal: SA Insurance Merges With Standard Life

Nairametrics| Standard Alliance Insurance Plc, has formally merged with its sister company, Standard Life Assurance, to become one big insurance company, underwriting life and...

Deal: Brazilian Firm, Onmi Helicopters Commence Operations In Nigeria

Nairametrics| Omni Helicopters International, a Brazilian based company has signed a joint venture partnership worth over $20 million with Omni Blu Aviation Limited  of...

DEAL: P&G Sells Ibadan Healthcare Plant To Elixir Global

Nairametrics| Procter and Gamble has sold its Ibadan Healthcare Plant to Elixir Global Manufacturing Food Limited, a Nigerian entity operating under the Chanrai Summit...

Deal: MTN Says It’ll Swap 51% Of Its interest In Nigeria Tower For Additional...

Africa's largest GSM Network, MTN Group has said that it will exchange its 51% interest in Nigeria Tower Interco BV,...
Guinness Nigeria Plc

Guinness N40 billion Rights Issue: What Diageo Stands to Gain

Nairametrics| Guinness Nigeria Plc has finalized plans to seek shareholder approval to raise N40 billion via a rights issue. The company hopes to secure...

DEAL: Helios Completes Purchases of 49% Stake In Oando Gas and Power Limited

Nairametricsǀ Helios Investment Partners LLP, a premier Africa-focused private investment firm has announced the purchase of 49% voting rights in the Oando’s midstream business...