FBNQuest Merchant Bank, the investment banking and asset management subsidiary of FBN Holdings Plc, recently emerged winner of the Equity Deal of the Year category at the 2021 African Banker Awards, in recognition of its key played as adviser in the privatisation of Afam Power Plc and Afam Three Fast Power Limited for the Bureau of Public Enterprises on behalf of the National Council on Privatisation.
The award, the company said, affirms the organisation’s strong performance as a leading Investment Bank, even as the award organisers, this year, emphasised recognition and reward for institutions that contributed to Africa’s real economy which has suffered from the impact of COVID-19, in addition to impacting women empowerment on the continent.
FBNQuest Merchant Bank acted as the Financial Adviser & Consortium Lead in the transaction, which provided an opportunity to add to the organization’s impressive portfolio and highlight its capabilities for the successful execution of sizeable transactions.
The successful completion of the transaction, the company added, represents a landmark achievement in the Nigerian economy and the continuous commitment to the reformation of the Power sector in the country, by allowing the private sector to bring effectiveness and efficiency, thus leading to increased advancement in the sector.
Commenting on the award, Patrick Mgbenwelu, Group Executive/Head Investment Banking and Operations assured that “FBNQuest remains committed to consistently providing financial solutions that will enable our clients make a difference, and we are honored to be recognized by the African Banker, which is a reflection of the quality of support we give our clients.” he stated.
FBNQuest Merchant Bank has maintained a consistent strong position in the investment banking sub sector in Nigeria, with a rich pedigree in offering alternatives to traditional bank debt products and a reputation for the successful execution of several big-ticket capital markets and commercial debt transactions, the statement added.
