Virtus secures N446 million from Sterling Bank
Virtus (@rensourceenergy) secures N446 million from Sterling Bank
FG, Siemens to sign electricity deal today
FG @AsoRock, Siemens @Siemens to sign electricity deal today
Pepsi acquires Pioneer Foods Group Ltd, makers of Butterfield Bread
@pepsi has acquired Pioneer Foods Group Limited, the company that owns Nigerian bread brand, @ButterfieldBake. The deal is the first major international purchase under @pepsi's new Chief Executive Officer, Ramon Laguarta.
Japan’s Ohara Pharmaceutical takes over 20% stake in Fidson Healthcare
@FidsonHealthPLC has entered into a strategic partnership with Japan's Ohara Pharmaceutical that will see the latter's stake in the Nigerian company increase.
Special Report: Download the Nairametrics’ Deals Book for Q2 2019
This report summarises some of the corporate deals that were announced in the second quarter of 2019.
DEAL: VFD Group may take key stake in Abbey Mortgage Bank
@vfdgroup may take a key stake in Abbey Mortgage Bank Plc, through a private placement. Shareholders of the bank gave approval at its AGM held this week.
VFD Group cedes control as it divests from GAC two years after takeover
@VFDGroup has announced it will be exiting from automobile dealership company, Germaine Auto Center (GAC). The development is contained in a press statement sent to Nairametrics.
Actis takes over Nigerian-focused Abraaj Funds, after criminal charges and face-off with creditors
The management rights of Abraaj Private Equity Fund IV (APEF IV) and Abraaj Africa Fund III (AAF III) has been taken over by @ActisLLP, in a bid to steady the ships after months of investor confrontation and criminal charges against the firms senior executives.
CANAL+ Group Acquires ROK
Leading African film studio and TV network, ROK has been acquired by CANAL+ Group, comprising production, content distribution and publishing channels.
LASACO proposes N0.05 dividend for FY 2018
The Board of Directors of insurance underwriter, Lasaco Assurance Plc, is proposing to pay its shareholders a dividend of 5k per share for full-year 2018.
How GEIL’s $350 million deal with international firms will be deployed
Green Energy International Limited (GEIL) has concluded a $350 million deal for the second phase development of the Otakikpo marginal field.
New competition for Innoson as Renault re-enters Nigeria’s automobile market
@Groupe_Renault plans to re-enter the Nigerian car market, and to ease its entry, the company has signed an agreement with Coscharis. Find out why this may not be a very good development for @innosonvehicles.
Nigeria’s 54gene raises $4.5 million to enable drug production on African DNA
@weare54gene, has secured $4.5 million seed during a fundraising from private equity firms. The company has been conducting diagnosis and medical treatment of Africans.
Student Accommod8 Raises Debt Funding from Chapel Hill Denham’s Nigeria Infrastructure Debt Fund
Student Accommod8, (@SAccommod8) Nigeria’s leading developer, owner, and manager of high-quality and Purpose-Built Student Accommodation (PBSA), has raised an undisclosed amount of debt funding from the Nigeria Infrastructure Debt Fund (NIDF).
C & I Leasing diversifies into offshore asset operation and partners Indian firm
C & I Leasing Plc, a leading indigenous leasing and business service conglomerate, has announced its readiness to extend its business frontiers to offshore asset operation and maintenance.
Nigerian firm signs $30 million gas cylinder deal in Egypt
Nigeria's Rungas Industries partners with Egyptian firm in a $30 million gas deal.
Forte Oil’s majority shareholder to acquire fresh N22 billion worth of shares
Prudent Energy Services Limited, the new majority shareholder of Forte Oil Plc, is set to acquire fresh N22 billion worth of shares of the company.
Uber’s rival Swvl wants to expand into Nigeria, but commercial buses pose a threat
Egyptian vehicle hailing company, @swvlapp, has announced it will be making an inroad into Nigeria's ridesharing market to offer services that the likes of @Uber and @Boltapp_ng are yet to offer Nigerians, but it will meet a fierce challenge from yellow (commercial) bus operators.
DEAL: Jumia has sold its real estate assets portal to EMPG’s Mubawab
Dubai-based Emerging Markets Property Group (EMPG), Mubawab has secured the purchase of Jumia's North-African real estate portal, Jumia House.
Otedola completes sale of Forte Oil, pivots fully to power generation
The share price of Forte Oil Plc opened at N32.30 per share at the Nigerian Stock Exchange yesterday up from its last week opening price of N25.75, signalling a 24.44% rise in value barely one week after the Exchange endorsed the transfer of the 75% majority equity stake in the company from its Chairman, Femi Otedola, to Prudent Energy and Services Limited in a share purchase deal.
New facts behind the acquisition of Telluria Limited by Ellah Lakes emerge
On Friday, Ellah Lakes Plc announced the acquisition of Telluria Limited, a development that brought a major change in the Management of the former.
Corporate Deal: Ellah Lakes Plc confirms acquisition of Telluria Limited
Port Harcourt-based Agribusiness company, Ellah Lakes Plc, yesterday informed the Nigerian Stock Exchange and the investing public of its recent acquisition of Telluria Limited.
Econet wants to bring hybrid power solution to Nigeria
The quest to solve Nigeria's perennial power problem has gotten a boost as two energy companies have entered into an agreement to bring a hybrid power solution to Nigeria and other African countries.
One year on, Gokada raises $5.3 million in first ever Series A funding
On-demand motorbike hailing service, Gokada, has raised a $5.3 million Series A capital funding to expand its operations and increase daily rides by 1000%.
UBA partners Mastercard, Rewards Customers with All-Expense Paid Trip to UEFA Champions League Finals
United Bank for Africa Plc and Mastercard have announced they are giving away all-expenses paid trips to the Semi-Finals and Finals of the 2019 UEFA Champions League to 12 lucky UBA Mastercard holders and their plus ones.
Sahara Energy and Brooge Petroleum partner to build a new refinery
Sahara Energy Resources DMCC Dubai and Brooge Petroleum and Gas Investment Co (BPGIC), have signed a partnership agreement to build new refinery.
Jumia makes inroad into pizza market, partners Pizza Hut
Jumia Food recently announced a partnership with Lagos-based Pizza Hut and will soon launch an on-demand pizza delivery with the firm.
Special Report: Download the Nairametrics’ Deals Book for Q1 2019
This report summarises some of the corporate deals that were announced in the first quarter of 2019.
WorldRemit and Paga launch international mobile money transfer service
Digital money transfer company, @WorldRemit, has partnered with Nigeria's mobile money company, @mypaga, to expand its presence in Nigeria. Get details of the partnership by clicking the link...
UPDATE: Dangote announces impending sale of Dangote Flour Mills Plc to Olam
The Board of Dangote Flour Mills Plc has notified the NSE and the investing public about the acquisition of its shares by Olam International Limited.
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FG lists N296 billion savings bond on NSE
The Federal Government has listed savings bonds valued at N296 billion on the Nigerian Stock Exchange (NSE)
Ecobank Nigeria makes senior management appointments
Ecobank Nigeria has announced the appointment of 5 new management officers across various levels in the bank.
Focus on lifting people out of poverty – World Bank tells FG
Focus on lifting people out of poverty - World Bank tells FG