President of The Dangote Group, Aliko Dangote, has said that his friend and billionaire businessman, Femi Otedola, is welcome to attempt a corporate takeover of Dangote Cement.
Gatekeepers News reports that Dangote said this on Friday at the Dangote Cement customers appreciation event in Lagos.
While introducing some dignitaries at the event, he mentioned Otedola, saying, “We must also welcome our newest shareholder, Femi Otedola.
“There are people who fear that he is going to do the same thing he did at Transcorp; I say he’s welcome.”
Otedola, in a statement on Monday. confirmed his “significant acquisition of shares in Dangote Cement,” saying that the “strategic investment underscores his confidence in Dangote Cement’s potential to generate foreign exchange for the country and his dedication to supporting businesses that contribute to Nigeria’s economic resilience.
“Dangote Cement’s unique position with two export terminals offers a substantial opportunity to earn foreign exchange, crucial for Nigeria’s economy. This, along with the company’s pan-African presence, makes it an ideal investment choice,” said Otedola.
During the week, Dangote Cement became the first listed company to cross N10tn in market capitalisation.
It closed trading Friday at N11. 827tn with a unit of its securities priced N694.1 each.
Aliko Dangote controls about 85 per cent of Dangote Cement.
