FCMB Group Seeks to Acquire Additional 60% Stake in Legacy Pension Managers

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October 23, 2017/NSE

FCMB Group Plc (Bloomberg: FCMB) hereby notifies the Nigerian Stock Exchange (“NSE”) that FCMB Group Plc (“FCMB”) has entered into an agreement with other shareholders of Legacy Pension Managers Limited (“Legacy”), for the acquisition of an additional 60% stake in Legacy. The proposed acquisition will increase FCMB’s interest in Legacy to 88.2%, thus making Legacy a subsidiary of FCMB. 

The proposed transaction is subject to the approvals of the Central Bank of Nigeria, the National Pension Commission and the Securities and Exchange Commission.

We shall notify the NSE once the relevant approvals for the transaction are received.