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AMCON to Sell Peugeot Automobile to Africa's Richest Man, Dangote, and Two States… See Details

The Chief Executive of the Asset Management Company of Nigeria, has revealed that AMCON is set to offer Peugeot Automobile Nigeria Ltd to...



The Chief Executive of the Asset Management Company of Nigeria, has revealed that AMCON is set to offer Peugeot Automobile Nigeria Ltd to extremely rich person business mogu, Aliko Dangote, and two Nigerian states.



The Asset Management Company of Nigeria (AMCON) is near offering Peugeot Automobile Nigeria (PAN) Ltd, a neighborhood auto get together joint wander, to Africa's wealthiest man, Aliko Dangote, and two Nigerian states.

"We have closed all procedures on the offers since around two months prior, all we are sitting tight for (now) is the endorsement of the national bank," Ahmed Kuru, AMCON's CEO, told Reuters on Friday.

Dish, a Nigerian vehicle get together plant situated in Kaduna state, has PSA Peugeot Citroen as its specialized cooperate with an ability to gather 90,000 autos a year, as per its site.

Dangote, in cooperation with the conditions of Kaduna and Kebbi and the Bank of Industry (BOI) advancement bank made an offered to obtain a dominant part stake in PAN a year ago as AMCON looks to auction a portion of the advantages it procured in the wake of the saving money emergency.

Dangote's eponymous gathering of organizations is dynamic in concrete, oil, nourishment and sugar, and is venturing into cultivating.

The automaker is worth more than 15 billion Nigerian naira ($49 million) as per its last valuation, Kuru stated, yet declined to name the organization Dangote and his accomplices are utilizing to gain the automaker.

AMCON, set up in 2010 to tidy up the keeping money framework taking after a $4 billion protect of nine moneylenders that approached crumple, assumed control PAN in the wake of purchasing up its obligation and changing over it to value. ($1 = 304.4000 naira)

- Reuters

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