ADVERTISEMENT
The Moment Nigeria
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport
No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport
No Result
View All Result
The Moment Nigeria
No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport

Union Bank of Nigeria completes shareholding takeover, delists from stock exchange

by Usman Kadri
November 14, 2023
Reading Time: 1 min read
Union Bank of Nigeria completes shareholding takeover, delists from stock exchange
Share on FacebookShare on TwitterShare on WhatsappShare on LinkedIn

In May, 2023, Union Bank received an offer from its core shareholder, Titan Trust Bank Limited, to acquire the shares of all minority shareholders in Union Bank after the completion of core investors’ sale of a majority shareholding to Titan Trust Bank Limited, a subsidiary of TGI Group.

The acquisition of the minority shareholding has led to the application to delist Union Bank of Nigeria Plc from the Nigeria Stock Market. This development was implemented by way of a scheme of arrangement between the bank and the bank’s shareholders (the minority shareholders), by Section 715 of the Companies and Allied Matters Act 2020 (as amended).

Union Bank of Nigeria has notified all esteemed stakeholders that the Bank is finalizing the process of obtaining approval to delist the Bank’s shares from NGX, upon which shareholders of the Bank will receive a Scheme Consideration of N7.70 per share.

RELATED STORIES

Tony Elumelu

Tony Elumelu’s UBA Faces Backlash Over N180.5m Customer Loss In System Failure

June 17, 2025
Fidelity Bank ED, Kevin Ugwuoke takes over as President of Risk Managers Association

Fidelity Bank ED, Kevin Ugwuoke takes over as President of Risk Managers Association

June 15, 2025

Commenting on this development, Mudassir Amray, CEO of Union Bank of Nigeria said: “This move is an effort to attract larger private investments to reconsolidate our position as one of the top pioneer Banks in Nigeria. We remain committed to deliver value to our customers, employees and shareholders through superior solutions. We appreciate the support of the Central Bank of Nigeria, Securities Exchange Commission, Nigerian Exchange Group (NGX) and every other agency and parastatal that were instrumental to achieving this.”

Next Post
Former Super Eagles striker Odion Ighalo in adultery scandal

Former Super Eagles striker Odion Ighalo in adultery scandal

More Articles...

Police arraign Ghanaian over alleged N7.4m visa fraud

June 17, 2025
Viral ‘gun’ video: Pastor Paul Adefarasin in Police custody

Viral ‘gun’ video: Pastor Paul Adefarasin in Police custody

June 17, 2025
Tony Elumelu

Tony Elumelu’s UBA Faces Backlash Over N180.5m Customer Loss In System Failure

June 17, 2025
Fidelity Bank ED, Kevin Ugwuoke takes over as President of Risk Managers Association

Fidelity Bank ED, Kevin Ugwuoke takes over as President of Risk Managers Association

June 15, 2025
Fargo Petroleum CEO, Seun Ogunbambo wanted by EFCC over N976 million fraud

Fargo Petroleum CEO, Seun Ogunbambo wanted by EFCC over N976 million fraud

June 13, 2025
EFCC moves to arraign SunTrust Bank MD, Hakima Buba, Director for alleged $12m fraud

EFCC arraigns Sun Trust bank CEO, other accuse of $12M fraud

June 13, 2025

STANBIC IBTC ADVERT

About Us

Themomentng.com is an online community of reporters and social advocates dedicated to bringing you features, news reports by Africans, but from a global perspective.

Contact Us

+447771081433
+2348051966180(WhatsApp/SMS Only)
Email: themomentng@gmail.com

Categories

  • Business
  • Education
  • Entertainment
  • Events
  • Featured
  • Food
  • Foreign
  • Health
  • Interviews
  • Life and Styles
  • Metro
  • Motoring
  • News
  • Opinion
  • Politics
  • Religion
  • Society
  • Sport
  • Technology
  • Top Story

Follow Us

Facebook Twitter Instagram

Copyright © Themomentng.com. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport