At the signing ceremony for the Ardova Plc N25.3bn series 1 Bond issuance recently held in Lagos.
Further to the announcement of 14 June 2021 wherein Ardova Plc (the “Company” or “Ardova”) notified the Nigerian Exchange Limited, its shareholders, and the investing public of the execution of a share purchase agreement to acquire 100% equity stake in Enyo Retail and Supply Limited (“Enyo”), the Company is pleased to announce that the Transaction has been completed and all conditions have been satisfied.
The acquisition was completed through a wholly-owned subsidiary of the Company, Bags and Kegs Limited, and with effect from today, Enyo is now a wholly-owned subsidiary of the Company.
Stanbic IBTC Capital Limited and Banwo & Ighodalo advised Ardova while Rand Merchant Bank and Herbert Smith Freehills Paris LLP acted as financial and legal advisers respectively to Enyo.
