Femi Otedola, chairman of Geregu Power, has increased his interest in the conglomerate Transnational Corporation Plc (Transcorp) from 5.52 percent to 6.3 percent.
Gatekeepers News reports that the development makes Otedola the biggest shareholder in Transcorp after United Bank for Africa (UBA) Nominees, according to Transcorp’s audited results.
UBA Nominees owns about 9.25 percent of the company as of December 31, 2022.
On Monday, Otedola via his Twitter page, said he looks forward to working with the board and management of Transcorp to elevate the company to greater heights.
“Following this acquisition I look forward to working with the board and management of Transcorp to realise the amazing future potential of the corporation,” the tweet reads.
