Bitter kola export business in Nigeria, Invest N80, 000 & make100percent profits

Do you know you can make 100percent profits when you invest just N80, 000 in exporting Bitter kola from Nigeria to Europe, America and Asia countries? More »

How to export Ginger from Nigeria and make huge profit

The demand for Ginger in the international market has gone up significantly because the root is now being used as raw material in manufacturing process. Learn how to export Ginger and make huge profit. More »

How To Start Pure water business In Nigeria

Requirement for starting and managing a successful sachet/bottled water production business in Nigeria More »

How to start a small scale Livestock feeds production business in Nigeria

You can start a small scale livestock feed production in Nigeria without regrets because it is very certain you will make enough cash doing the business. But before you start livestock feed production business, you will need More »

How to Start a Profitable Cement Block Molding Industry in Nigeria.

Are you thinking of starting a profitable business of your own in Nigeria? If yes then I will want you to consider setting up a cement block molding industry in the country More »

How To Start Small Scale Poultry Farm in Nigeria (Feasibility studies)

The high demand for chicken meat and eggs has really proven that Poultry farming in Nigeria is indeed a very lucrative business. More »

Instant Pounded Yam Production-Business Startup Requirement

You can make up to N500, 000/month producing and selling Instant pounded Yam powder, 1kg pack of the product is sold between N250 to N350 in the Nigerian market and $17 abroad More »

 

ACA Plans To Invest Revenues from Sale of MTN Shares in Union Bank

Business News (Finance) — AFRICAN Capital Alliance (ACA), the core investor in Union Bank of Nigeria Plc, plans to invest the money harvested from the sale of its shares in MTN Nigeria in the Nigerian Bank.
THE CITIZEN learnt that the private equity company provided the bulk of the shares sold to Shanduka Group by three Nigerian investors.
ACA has invested about $500 million in Union Bank and plans to invest an additional $250 million in the bank as it was originally agreed to in the purchase agreement.
A source close to the venture capital firm said that it treasures its stake in the bank and was in a hurry to revitalize the bank’s operations.
“Given the pedigree of Union Bank in Nigerian financial system, ACA believes that with the right mix of initiatives it won’t be long before the bank would tide over. They project that under three years of consistent reforms they could turn the business into a cash cow.

ACA alongside two other private investors including private equity company African Capital Alliance sold their shares to Shanduka Group. The deal is worth about $350 million. MTN Nigeria, with the MTN Group valued at $36 billion and the Nigerian business alone valued at $10.8 billion.
MTN Group in a 2007 private placement, sold a total of 43,024,602 “MTN Nigeria linked units” or shares at $24.56 per unit, intended to raise the Nigerian ownership of MTN Nigeria to 21.4 percent.
It was learnt that Standard Chartered alerted Shanduka Group to the opportunity and also helped finance the purchase through debt and equity.
With the development the proportion of interests held by Nigerians in the MTN Nigeria has further diminished.
Attempts made to reach ACA proved abortive as both telephone calls and electronic message sent to their office were not responded to.-Businessnews.com.ng

Leave a Reply