Business
Titan Trust Bank acquires majority stake in Union Bank
Titan Trust Bank Limited (TTB) has acquired major stakes in Union Bank of Nigeria Plc.
Somuyiwa Sonubi, Union Bank’s secretary, disclosed this in a statement posted on the Nigerian Exchange Limited (NGX) today.
The statement said Union Global Partners Limited, Atlas Mara Limited and other existing shareholders agreed to divest 89.39 percent shareholding in Union Bank to TTB.
The board of directors of Union Bank of Nigeria Plc explained that the transaction, which is subject to regulatory approvals and other financial conditions, would upon completion transfer 89.39 percent of Union Bank’s issued share capital to TTB.
Commenting on the transaction, Beatrice Hamza Bassey, chair, Union Bank, said: “On behalf of the Board, we congratulate all the parties involved in reaching this phase of the transaction and the Board looks forward to supporting the next steps to ensure a seamless completion of the process following regulatory approvals.”
Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.
She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others
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