Preline Limited Completes Acquisition Of 60.98% Equities In Eterna

Preline Limited has emerged the largest and majority shareholder in Eterna Plc, a Nigerian firm which manufactures and sells a range of lubricants and petroleum products as well as supplies imported fuels for the retail, industrial, agricultural following its acquisition of interests of some key shareholders.

The key shareholders include Lenux Integrated Resources Limited, Global Energy & Raw Materials Limited, Meristem Wealth Management Limited, Radix Capital Partners Limited, GASL Nominee Limited, GTI Capital Limited and Cardinalstone Partners Limited.

Eterna Plc in a notice at the Nigerian Exchange said that following the granting of ‘the authority to proceed’ by FCCPC, SEC and NGX and the fulfillment of all other regulatory requirements; Preline Limited has completed the acquisition of 794,969,774 ordinary shares of the Company representing 60.98% in the Company, thus making it the largest and majority shareholder in the Company.

Eterna had in a public statement dated 23rd August 2021 notified the general public that some of its substantial shareholders had formally informed the Board of the Company that they had executed a Sale and Purchase Agreement (SPA) between the Shareholders and Preline Limited for the sale of the shares.

ALSO READ  CBN Intensifies Market Intervention As Naira Depreciates At Official Window

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button