After several rebuffs by the shareholders of Acen Insurance Plc, the acquisition by Sovereign Trust Insurance Plc is set to go ahead. The agreed terms are 1 Sovereign Trust share for 85 shares in Acen Insurance.
Acen Insurance Plc was de-listed from the Nigerian Stock Exchange for falling short of certain listing requirements, in a clean up exercise by the Exchange two months ago. Hopefully, Sovereign Trust knows what it is letting itself in for.
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