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BANKING & FINANCENEWS

Stanbic IBTC Facilitates Acquisition Of Equity Stake In Food Concepts PLC

Stanbic IBTC Facilitates Acquisition Of Equity Stake In Food Concepts PLC

Stanbic IBTC Capital, a subsidiary of Stanbic IBTC Holdings PLC, has advised Development Partners International (DPI) on the investment by African Capital Alliance (ACA) in Africa’s leading multi-brand Quick Service Restaurant (QSR) group, Food Concepts Plc (Food Concepts). The deal involves the successful acquisition of a 31% equity stake in Food Concepts by ACA.

Stanbic IBTC Capital Limited, Stanbic IBTC Stockbrokers Limited and Stanbic IBTC Bank PLC played the roles of the financial advisor, broker and bank respectively from inception to close of the acquisition process of the transaction.

Stanbic IBTC was fully committed to driving the transaction forward at various key stages despite the macro constraints over the last 18 months.

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Speaking on the completion of the transaction, Funso Akere, Chief Executive of Stanbic IBTC Capital said: “We are extremely proud of the success of this transaction, taking cognisance of the critical role that Stanbic IBTC played in delivering on this mandate. This is an exciting African success story, we are very proud to be a part of.”

In the same vein, Olusola Carrena, Head, Corporate Finance, Stanbic IBTC Capital, stated that the transaction further highlighted the important role of the bank as a leading financial advisory firm for African companies.

According to her: “This transaction further highlights why Stanbic IBTC Capital remains the adviser of choice. We will continue to provide all clients with the support to deliver on their strategic plans”.

About Author

Aina Adepeju is a Mass Communication graduate. Adepeju loves photography. She is a Member of the Nigerian Institute of Public Relations (NIPR) and Advertising Practitioners Council of Nigeria (APCON). Adepeju can be reached via [email protected]

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