FBN Holdings Plc on Tuesday explained the rationale behind the sale of it merchant banking business to EverQuest Acquisition LLP.
The Holding company also listed its other entities and businesses not included in the sale.
Adewale Arogundade, acting company secretary of the Holdings, made the clarification in a notification sent to the Nigerian Exchange Ltd.(NGX) in Lagos.
A divestment involves a company selling off a full or partial stake of its assets through sale, exchange, closure, or bankruptcy, often to improve the company’s value and obtain higher efficiency.
Many companies use divestment to sell off peripheral assets, enabling their management teams to regain sharper focus on the core business.
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