First HoldCo Plc Completes Full Divestment of FBNQuest Merchant Bank

First HoldCo Plc has formally notified the Nigerian Exchange Limited (NGX) and the investing public of the successful completion of the sale of its subsidiary, FBNQuest Merchant Bank Limited. 

The transaction sees First HoldCo Plc divesting its 100% ownership stake in the merchant bank.

The full divestment was completed in favour of EverQuest Acquisition LLP.

Seller: First HoldCo Plc

Asset Sold: 100% stake in FBNQuest Merchant Bank Limited

Acquirer: EverQuest Acquisition LLP

Regulatory Compliance: The transaction has been finalized after obtaining all necessary regulatory approvals from the Central Bank of Nigeria (CBN).

The notice, signed by Abiola Baruwa, Group Company Secretary for First HoldCo Plc, confirms that the action aligns with the disclosure requirements stipulated under the Nigerian Exchange Limited (NGX) Rulebook.

The completion of this sale marks a significant corporate event for First HoldCo Plc, restructuring its group portfolio.