CardinalStone Securities Limited Executes The Largest Block Deal In The Nigerian Capital Market

CardinalStone Securities Limited is pleased to announce the execution of the sale of 27,336,952,296 ordinary shares of Union Bank of Nigeria Plc at ₦7.00 per share by Atlas Mara Limited and Union Global Partners Limited to Titan Trust Bank Limited. The sale which represents a 93.4% equity stake in Union Bank is for a total value of ₦191 billion (US$461 million).
in Union Bank.

This landmark transaction is the largest divestment/acquisition deal executed in the Nigerian Capital Market. With a trade value of ₦191 billion (US$461 million). The deal surpasses the divestment of c.3.2% of Dangote Cement Plc by Dangote Industries Limited (Transaction value; ₦125 billion, US$346 million), Crown Flour Mill’s acquisition of Dangote Flour Mills Plc (Transaction value; ₦120 billion, US$333 million), Access Bank Plc’s acquisition of Diamond Bank Plc (Transaction value: ₦72.5 billion, US$236 million). NIPCO’s acquisition of Mobil Nigeria Plc (Transaction value: ₦91 billion, US$282 million).
-Nairametrics.