International Energy Insurance (IEI) has notified the Nigerian Exchange and the investing public of the acquisition the Company by Norrenberger Advisory Partners Limited.
According to a statement by the International Energy Insurance (IEI), the Company in its effort to meet the capitalization requirement as directed by the National Insurance Commission (NAICOM) sought to obtain a No Objection approval of NAICOM for the acquisition of the 100% equity of the Company by Norrenberger Advisory Partners Limited (The Acquirer)
As a first step, the Acquirer has commenced the process of obtaining the approvals of the Federal Competition and Consumer Protection Commission (FCCPC) and Securities and Exchange Commission (SEC) for the acquisition of 50.62% from the key shareholders, following the execution of Share Purchase Agreement between the Acquirer and the Company’s key shareholders.