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Nigeria: FBN Insurance to launch takeover bid for remaining stake in Oasis Insurance

July 4, 2014 - 6:00am


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.

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