Honeywell Group Confident of Value Generation in FBN Holdings Increases stake to 15.1%
Nseobong Okon-Ekong
Nigerian investment company, the Honeywell Group has taken a significant step towards value generation by acquiring additional shares in FBN Holdings Plc, the
parent company of Nigeria's oldest bank, First Bank. Honeywell recently made a strategic investment in FBN Holdings through its affiliate company, Barbican Capital Limited. THISDAY on Monday, published
the contents of a letter from the Managing Director of the Honeywell Group, Mr. Obafemi Otudeko, addressed to the Chairman, FBN Holdings Plc, in which he had indicated the advantage Honeywell Group was bringing to make the
holdco more successful over time, while clearly stating its blueprint and business interests in other sectors of the economy. Through the latest intervention by Barbican, the company increased its stake to an impressive 15.1 per cent.
In what analysts have termed the largest single largest transaction in 2023, Honeywell Group acquired over 4.7 billion additional shares on Thursday, July 6, 2023. In a statement from the company, it mentioned that it had, “notified
FBN Holdings Plc (FBN) and regulatory authorities of the acquisition of 4,770,269,843 shares of FBN by its affiliate company, Barbican Capital Limited. This purchase is in addition Continued on page 10
Kyari: NNPC May Divest Selected Assets, Exit Production Sharing Agreements... Page 5 Wednesday 12 July, 2023 Vol 28. No 10318. Price: N250
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Abdullahi Adamu: I Supported Lawan, But Won Election for Tinubu Says APC willing to receive Wike-led G-5 Emmanuel Addeh in Abuja The National Chairman of the All Progressives Congress (APC), Senator Abdullahi Adamu, yesterday said
he deserved some commendation despite working for Senator Ahmad Lawan in the run-up to the party’s presidential primaries, even if only for the fact that he (Adamu) presided
over the victory of President Bola Tinubu. Speaking on Arise Television, THISDAY’s broadcast arm last night, Adamu stated that the rumoured
differences between himself and the president were unfounded, pointing out that before the emergence of Tinubu he had the right to support whoever he wanted.
He stated that he was also misrepresented about his position on the recently elected principal officers of the national assembly, saying that what the APC had
issues with was the manner the communication was handled by the lawmakers. Continued on page 10
Tinubu: Festering Reprisal Attacks in Plateau, Benue Depressing, Avoidable Orders security agencies to fish out perpetrators of recent killings Says suspects must face full wrath of law Wants cycle of violence dismantled House asks IG, NSA to declare national emergency Benue governor proposes amnesty for repentant criminals Traditional ruler narrates gruesome killing of 30 people Enugu, Kaduna governors seek military assistance to tackle insecurity
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GROUNDBREAKING CEREMONY OF 30MW EMBEDDED INDEPENDENT POWER PLANT... L-R: Director ARM Harith, Jobalo Oshinkanlu; Jide Onakoya - COO, Elektron Energy, Tinuade Sanda - MD/CEO, Eko Disco, Dere Awosika - Chairman, Med In Pharmaceutical, Dere Otubu -Chairman Eko Disco, Shola Shasore Permanent Secretary, Lagos State Ministry of Energy and Mineral Resources, Tola Talabi - MD, Elektron Energy, Tariye Gbadegesin - MD, ARM Harith, Tein George - Director, WPG, Bolaji Osunsanya - MD, Axxela, Deen Solebo - CFO, Elektron Energy, KS Narasimha - Senior Business Development Manager, Wartsila, at the groundbreaking ceremony of the 30mw embedded independent power plant powered by Eko Disco and Elektron Energy.