Nigeria: FBN Insurance to launch takeover bid for remaining stake in Oasis InsuranceReprints
Nigeria-based FBN Insurance will soon launch a bid to buy out the 28.8% minority stake in Oasis Insurance P.L.C. that it currently does not own, Reuters reported.
The transaction will be valued at 1 billion Nigerian naira ($6.3 million). In February 2014, FBN Insurance had purchased a 71.2% stake in the fire insurer.