Access Corporation has announced the completion of the acquisition of indirect equity stake in Sigma Pension Limited (SIGMA) and merger of First Guarantee Pension Limited (FGPL) with SIGMA.
This was disclosed in a letter signed Sunday Ekwochi, the Group Company Secretary of Access Corporation. The letter says;
Sequel to our announcement on October 25, 2022, Access Holdings Plc, trading as Access Corporation (‘the Corporation’) today announces the completion of its acquisition of indirect equity stake in Sigma and the merger of its subsidiary, FGPL with Sigma.
Following the sanction of the Scheme of Merger between Sigma and FGPL by the Federal High Court on December 1, 2022, FGPL has been dissolved without winding up leaving Sigma as the surviving entity.
Commenting on this landmark transaction, Dr. Herbert Wigwe, Group Chief Executive of the Corporation, said:
“Following the successful completion of the merger, our plan is to leverage the synergies of these entities, as well as the Corporation’s expansive distribution network, strong risk management culture and best-in-class governance standards to create a formidable pension funds administration business.”
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