German Company Pays 11.5 Billion To Acquire Nigerian Insurance Firm - Business - Nairaland
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| German Company Pays 11.5 Billion To Acquire Nigerian Insurance Firm by wontiboje: 10:05pm On Aug 30, 2017 |
As a follow up to the announcement that Germany's Allianz has acquired Ensure Insurance, latest updates show that the group paid USD35 million for 98% stake in the Nigerian company. The amount of the transaction is about NGN11,536,000,000 using real time exchange rate. The deal awaits regulatory approval from Nigeria. Ensure Insurance is yet to make public disclosure on the transaction. Read more: https://pageone.ng/2017/08/30/allianz-paid-ngn11-5-billion-to-acquire-ensure-insurance/ |
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