International Energy Insurance Plc has announced the takeover of the company by Norrenberger. Norrenberger has obtained the approval of the National Insurance Commission (NAICOM) to acquire 100% equity holding in the Company.
Norrenberger has obtained the final approval of the NGX for the block acquisition of 50.6% equity in the first instance while it has commenced the process of the approval of the Nigerian Securities and Exchange Commission for the Mandatory Takeover Bid to be able to acquire the remaining holdings of the Company.
With the acquisition, Norrenberger will expand and strengthen its business model to improve its solution and service distribution to clients across Nigeria.
Source: Norrenberger completes takeover of International Energy Insurance Plc – StocksWatch (stocksng.com)