DANGOTE TO ACQUIRE AMCON MAJORITY STAKE IN PEUGEOT AUTOMOBILE NIGERIA

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This

was disclosed by the AMCON chief executive officer, Ahmed Kuru, in an interview with Reuters. that all processes on the bids were completed about two months ago.

He said all processes on the bids were completed about two months ago and all that is left is an approval from the Central Bank of Nigeria.

Though he declined to mention the rest of the entities in the consortium, Kuru told Reuters that AMCON's stake is worth over N15 billion, according to its latest valuation.

It is, however, reported that the business mogul and Africa's richest man is leading a consortium involving the Kaduna and Kebbi state governments and the Bank of Industry (BoI).

Dangote made the bid to acquire the 79.3 percent AMCON stakes in PAN after the agency launched an auction in January 2016.

PAN was a joint venture between the federal government and Peugeot Citroen which was founded iufacture of 90,000

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