FCMB set to acquire AIICO Pensions

FCMB set to acquire AIICO Pensions

Two pension funds administrators (PFAs) are ready to become one through acquisition as the FCMB Pensions Limited, a subsidiary of First City Monument Bank (FCMB) Group commenced the process to buy AIICO Pensions Managers Limited. In separate filings at the Nigeria Stock Exchange, the duo Wednesday notified the investing public of the deal saying that FCMB has entered into discussions with shareholders of AIICO Pension Managers Limited. FCMB intends to acquire the 70 per cent stake held by AIICO Insurance Plc and 26 per cent held by some other shareholders…

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