The board of Custodian Investment Plc, on Monday said it is part of a consortium that entered into a Share Sale and Purchase Agreement to purchase 100% equity stake in FBNQuest Merchant Bank Limited, the wholly owned investment banking subsidiary of Nigeria’s foremost financial institution- FBN Holdings Plc.
The notice through the Nigerian Exchange Limited portal, came after an earlier announcement of the deal with EverQuest Acquisition LP (comprising Custodian Investment Plc, Aion Investment and Evercorp Industries).
It was not clear how much the divestment deal is worth as of Monday evening.
According to Adeyinka Jafojo of the Company Secretarial Services of Custodian Investment Plc, “EverQuest Acquisition LP was selected as the preferred bidder” following a competitive bid process.
The deal, he assured, “is in alignment with the Company’s long-term strategy to build a robust Investment Group.
“The completion of the sale is subject to approvals from the relevant regulatory authorities,” Jafojo added.
Findings show that Evercorp Industries Limited was incorporated as Evercorp Limited in the UK in October 2022, with company number: 14438805, and has as address: 54 Portland Place, Greater London, United Kingdom, W1B 1DY. There are, however, no further information as to what it has done or business it is currently engaged in beyond: “Other business support service activities not elsewhere classified.”
- Ehimare Idiahi
The company is said to have as one of its active directors, 42-year old Ehimare Idiahi, (Eric Idiahi on his LinkedIn page), a director of EnjoyCorp Limited Completes, a young company that recently acquired 86.5% stake In Champion Breweries from Heineken’s subsidiary- Nigerian Breweries Plc. Idiahi has on his LinkedIn profile, CEO of Evercorp Industries Limited which “operates in financial services, energy, and the beverage industry.
“With its three subsidiaries—emPLE Group, EverCorp Energies, and EnjoyCORP—the company is committed to sustainability, long-term growth, and value creation within its core businesses,” he added.
Aion Investment, the other member of the consortium is according to records is 55% owned by Akinkugbe Ibukun Olukayode, the current MD/CEO of FBNQuest Merchant Bank since 2016, and his wife Ronke.
