Market | Mergers & Acquisitions

Access Holdings Plc Completes Acquisition of Indirect Equity Stake In Sigma Pensions Ltd and Merger of Sigma And First Guarantee Pension Ltd

Dec 05, 2022   •   by NGX   •   Source: NGX   •   eye-icon 160 views

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 an 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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