FCMB Pensions agrees to acquire 96% stakes in AIICO Pensions


FCMB Pensions and AIICO Pensions have both agreed on an acquisition deal that will see the former acquire 96% in the latter.

FCMB Pensions is a member of the FCMB Group Plc, a second-tier lender with interests in commercial and corporate banking.

According to the proposed acquisition deal, FCMB will acquire an additional 26% stake in AIICO Pension (which is held by other shareholders) would also be acquired by FCMB Pensions Ltd, thereby bringing the proposed acquisition to 96% stake.