FBN Holdings Denies Otedola’s Acquisition of Majority Shares

FBN Holdings (FBNH) Plc, on Thursday, denied the reported acquisition of a majority stake in the company by Businessman, Femi Otedola.

In a statement published on the website of the Nigerian Exchange (NGX) , FBN Holdings said it was yet to receive any notification of the reported acquisition.

The statement signed by the FBNH Company Secretary, Mr Seye Kosoko,

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read: “The attention of FBNH has been drawn to media reports of today, Oct. 22, purporting that a certain individual has acquired significant shareholding interest in FBN Holdings, making him the majority shareholder in the company.

“As a listed company, the shares of FBN Holdings are publicly traded, and sale and acquisition of shares are expected in the normal course of business.”

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FBNH explained further that the company operate in a regulated environment, which required notification of significant shareholding by shareholders to the company, where shares were held in different vehicles, further to which the company would notify the regulators and the public as appropriate.

“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions.

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“FBN Holdings Plc will always notify the appropriate agencies and authorities whenever it receives any notice of significant shareholding by the shareholders and the company’s registrars.”