Home Business Otedola finally speaks on Transcorp Plc, says he offered to buy company for N250bn
Otedola finally speaks on Transcorp Plc, says he offered to buy company for N250bn
Billionaire businessman Femi Otedola has revealed that he offered to acquire Transcorp Plc for N250 billion, with the aim of increasing the company's market capitalization to at least N2 trillion, but his bid was turned down.
Otedola recently became the second-largest shareholder in Transcorp Plc after acquiring a 5.52% stake, which he later sold to Tony Elumelu, the chairman of the group.
Otedola recounted his history with Elumelu, including his investment of $20 million in UBA at Elumelu's request, and his bankruptcy in Nigeria in 2008, which resulted in Elumelu taking over his shares in UBA and Africa Finance Corporation.
Otedola maintains that his offer to acquire Transcorp Plc was made in good faith and with the best interests of the company and its shareholders in mind.click on the link to get the full gist
source; The cable
link; https://www.thecable.ng/otedola-finally-speaks-says-he-offered-to-buy-transcorp-plc-for-n250bn
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