Access Holdings Plc has obtained regulatory clearances for its proposed acquisition of a majority equity stake in ARM Pensions Managers (PFA) Limited.
Both the National Pension Commission and the Federal Competition and Consumer Protection Commission have granted their approvals for the transaction. Following the acquisition, Access Pensions and ARM operations will merge, creating Nigeria’s second-largest Pension Fund Administrator (PFA) by Assets Under Management.
Dr. Herbert Wigwe, the Group Chief Executive of Access Holdings, expressed pleasure at reaching this transformative milestone, anticipating a positive future for the combined entity and highlighting the creation of sustainable stakeholder value.
Jumoke Ogundare, the Group CEO of ARM Holding Company Limited, noted the ripe market for consolidation and expressed confidence that the proposed combination with Access Pensions would create a formidable pension funds administration business.
The completion of the transaction is contingent upon obtaining all requisite regulatory approvals. Access Holdings remains committed to keeping the market informed in line with its disclosure obligations.
Access Holdings recently announced that Access Bank Plc, its flagship subsidiary, has entered into a definitive agreement for the acquisition of a majority equity stake in Finance Trust Bank (FTB) in Uganda. The transaction is subject to regulatory approvals and is expected to close in the first half of 2024.
Access Bank’s acquisition in Uganda presents an opportunity for collaboration with FTB to boost financial inclusion, product diversification, and customer-centricity. Access Bank’s global presence in over 20 countries provides a robust platform for FTB’s customers to explore trade opportunities worldwide.
