Stanbic IBTC Strengthen Financing Advisory, Stockbroking In Accession Of Forte Oil Shares

Must Read

Midea Showrooms And Stores In Nigeria

If you’ve been wondering where Midea showroom and stores are in Nigeria below is a list of Showrooms and...

Playfre now only available in Nigeria, Ghana, Kenya, Egypt, and South Africa; blocks access to the rest of the world

The African music streaming giant Playfre has blocked access to the music streaming platform from countries other than Nigeria,...

Excitement as Africa’s Biggest Geek and Pop Culture Marketplace Returns This September

In its eight-year of growing Africa’s creative industry, Nigeria’s own Comic Convention goes FEARLESS and triples the fun from...
- Advertisement -
- Advertisement -

Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has leveraged its extensive financial services experience and expertise in strongly encouraging the Accession of a majority stake in Forte Oil PLC by Ignite Investments and Commodities Limited, an associate of Prudent Energy and Services Limited.

The agreement was administered by members of Stanbic IBTC Holdings PLC, who undertook multiple roles: Stanbic IBTC Capital Limited acted as Financial Adviser and Debt Arranger; Stanbic IBTC Bank PLC acted as Lender and Underwriter, Stanbic IBTC Stockbrokers Limited acted as Stockbrokers to the buyer and Stanbic IBTC Trustees Limited as Escrow Agents.

Chief Executive, Stanbic IBTC Bank PLC, Dr Demola Sogunle, reiterated the financial institution’s commitment to delivering exceptional quality of service to its clients and its strong focus on consistently adding value to its clients’ businesses, thereby enabling them to achieve their set objectives.

Read:  Ace Comedian, Helen Paul, BBN Contestant Sensitize Women On Ajinomoto Seasoning (Photos)

Sogunle said the unmatched financial groups’ expertise, knowledge and experience in handling the end-to-end requirements of big-ticket transactions, whether in debt or equity financing were brought to bear in successfully closing the historic deal. The Stanbic IBTC Bank CE said the outcome is a result of 19 months of a gruelling multistage sell side process, painstaking negotiations, consultations, thorough and conscientious fulfilment of every conditional transaction traits that are synonymous with the financial institution and which has earned it the respect of its clients.

“We have a proven track record in this market and to this end we are keen on continuing to work and grow with our clients, leveraging on our local knowledge and international connection to deliver cutting edge solutions to meet the needs of our clients while helping to also nurture their business operations,” Sogunle said.

Read:  Stanbic IBTC Appoints New Board Members, Elevates Others
Read:  Stanbic IBTC Reform Infrastructure Of Lagos Primary School

Chief Executive, Stanbic IBTC Capital Limited, Mr Funso Akere, expressed gratitude to all the parties involved in the deal, including the clients as well as every other person who worked tirelessly to ensure a seamless process – from start to close of the successful transaction. He also recognized the teams from Stanbic IBTC Capital Limited, Stanbic IBTC Stockbrokers Limited, Stanbic IBTC Bank, Stanbic IBTC Trustees Limited and Standard Bank for their immense contributions to delivering another complex transaction within a reasonable timeframe.

“The successful completion of this transaction is yet another validation of Stanbic IBTC’s market leadership, expertise and the high standard of service quality it provides its local and international clients as a leading end-to-end financial services organisation with leading operators in their respective spaces in the Nigerian capital market and the financial services industry,” Akere stated.

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Chidi Nwaogu Wins First Prize In Entrepreneurship At The Africa 35.35 Awards

Nigerian serial Internet entrepreneur, Chidi Nwaogu, has won the first prize in the 'Entrepreneurship' category at the 2019 Africa...

5 TIPS FOR IDENTIFYING ONLINE SCAMS

The internet has made life very easy for everyone. You can Google anything to get quick information and much more other awesome benefits. However,...

Playfre now only available in Nigeria, Ghana, Kenya, Egypt, and South Africa; blocks access to the rest of the world

The African music streaming giant Playfre has blocked access to the music streaming platform from countries other than Nigeria, Ghana, Kenya, Egypt, and South...

7 new Free Trade Zones to Attract FDI – NEPZA

The Nigeria Export Processing Zones Authority (NEPZA) said the country stand to gain a lot from the seven new free trade zones project as...

More Articles Like This