FCMB To Acquire 60 Percent Stake In Legacy Pension

FCMB Group Plc On Monday October 23, 2017 said it has entered into an agreement with other shareholders of Legacy Pension Managers Limited for the acquisition of an additional 60 percent stake in Legacy.

According to a statement sent to the Nigerian Stock Exchange (NSE), the proposed acquisition will increase FCMB’s interest in Legacy to 88.2 percent, thus making Legacy a subsidiary of FCMB.

The proposed transaction is still subject to the approval of the Central Bank of Nigeria (CBN), the National Pension Commission (PENCOM) and the Securities and Exchange Commission (SEC).

Photo Caption: Ladi Balogun Group Managing Director of FCMB Holding Plc