First HoldCo Plc has finalised the transfer of its entire stake in FBNQuest Merchant Bank Limited to EverQuest Acquisition LLP.
Gatekeepers News reports that the announcement was made on Saturday by Abiola Baruwa, the group company secretary, who noted that the divestment was completed after securing approval from the Central Bank of Nigeria.
According to the statement, First HoldCo informed the Nigerian Exchange Limited (NGX) that it had concluded the full sale of its 100 percent ownership in the merchant bank to EverQuest.
The company first disclosed its intention to sell FBNQuest in September 2024, explaining that the decision was consistent with its plan to streamline and optimise its operations across subsidiaries.
EverQuest Acquisition LLP which is a consortium involving Custodian Investments Plc, Aion Investments, and Evercorp Industries emerged as the preferred buyer following a competitive bidding process.
