First HoldCo Plc has notified the Nigerian Exchange and the investing public that it has concluded the sale of its entire stake in FBNQuest Merchant Bank Limited to EverQuest Acquisition LLP.
The transaction, according to the statement, received all mandatory regulatory approvals, including that of the Central Bank of Nigeria (CBN), before being concluded.
The sale marks a strategic shift for First HoldCo as it continues to streamline operations and refocus its portfolio.
With this divestment now accomplished, EverQuest Acquisition LLP assumes full control of FBNQuest Merchant Bank Limited.