Union Bank Denies Purported Sale Of Owner’s Stake

The Union Bank of Nigeria Plc has today issued a disclaimer against an unsubstantiated publication by one of Nigeria’s leading online news site, that its principal owner is considering selling its 50% stake in the firm.

The disclaimer was signed by the bank’s secretary, Somuyiwa Sonubi and sent to the Nigerian Stock Exchange, as seen by Nairametrics.

Recall that a few days ago, some online news website had reported that Union Bank’s principal owner, Atlas Mara is considering selling its stake in the firm, after receiving bids from local banks. The report has it that Atlas Mara engaged the services of a financial advisor, Rothschild & Co to consider the deal.

In a bid to shed more light on the issue and allay the fears of stakeholders, Union Bank dismissed the claims, describing it as a mere ‘rumour and speculation’. It went further to advise relevant stakeholders which comprises of the members of the public, its customers, NSE and other regulatory bodies to disregard the speculation in its entirety.

Corroborating the stand maintained by the bank, Atlas Mara also rejected the report. It clarified the issue of contracting external advisers, noting that it was in line with the Board’s decision to explore a wide range of strategic options.

An excerpt of the disclaimer issued by the firm reads: “While it is the Company’s practice to refrain from comment on market rumours or speculation, we believe it is important to note that Atlas Mara has not received any offers from any local Nigerian bank or other bank wishing to acquire the Company’s stake in Union Bank of Nigeria (“UBN”). As previously announced to the market in 2019, the Board of the Company has been exploring a wide range of strategic options with the assistance of external advisers. That process is still underway and the Company’s strategic objectives have not changed.’’

What you should know

  • Atlas Mara is currently the biggest shareholder in Union Bank of Nigeria, with a stake of 49.97% (approximately 50%).
  • Union Bank Nigeria Plc share price closed trading today, January 27, 2021 at N5.7, down by 3.39%. It also has a market capitalization of about N165.99 billion.
  • Based on the current market capitalization, the stake of Atlas Mara translates to approximately N82.9 billion.

67 thoughts on “Union Bank Denies Purported Sale Of Owner’s Stake

  • April 10, 2021 at 9:50 am
    Permalink

    Hey there, I think your site might be having browser compatibility issues.
    When I look at your blog site in Safari, it looks fine but when opening in Internet Explorer,
    it has some overlapping. I just wanted to give you a quick heads
    up! Other then that, awesome blog! 0mniartist asmr

  • April 12, 2021 at 1:18 am
    Permalink

    Howdy! I understand this is kind of off-topic however I needed
    to ask. Does building a well-established website such as yours require a massive amount work?
    I am brand new to running a blog but I do write in my journal daily.
    I’d like to start a blog so I can share my personal
    experience and views online. Please let me know if you have any recommendations
    or tips for new aspiring blog owners. Thankyou!

    asmr 0mniartist

  • April 14, 2021 at 12:33 pm
    Permalink

    Excellent blog you have here.. It’s hard to find quality writing
    like yours nowadays. I really appreciate individuals like you!

    Take care!! asmr 0mniartist

  • April 16, 2021 at 1:08 am
    Permalink

    You need to take part in a contest for one of the most useful sites online.
    I most certainly will highly recommend this blog!

    0mniartist asmr

  • April 27, 2021 at 11:48 pm
    Permalink

    I like the helpful information you provide in your articles.

    I will bookmark your weblog and check again here regularly.
    I am quite sure I’ll learn plenty of new stuff right here!
    Best of luck for the next!

  • April 29, 2021 at 9:25 am
    Permalink

    What’s up, this weekend is pleasant in support of me,
    for the reason that this moment i am reading this great informative paragraph here at my house.

  • April 29, 2021 at 10:37 am
    Permalink

    It’s nearly impossible to find well-informed people about this subject, however, you sound like you
    know what you’re talking about! Thanks

  • April 29, 2021 at 1:51 pm
    Permalink

    What’s up, after reading this remarkable paragraph i am too glad to share my know-how
    here with friends.

  • May 7, 2021 at 1:48 pm
    Permalink

    Hello There. I found your blog using msn. This is a really well
    written article. I will make sure to bookmark it and return to read more of your useful
    information. Thanks for the post. I’ll certainly
    comeback.

  • May 8, 2021 at 1:24 am
    Permalink

    579340 677742When I initially commented I clicked the -Notify me when new comments are added- checkbox and now each time a remark is added I get four emails with exactly the same comment. Is there any manner you possibly can take away me from that service? Thanks! 954656

  • May 8, 2021 at 12:19 pm
    Permalink

    Remarkable! Its truly awesome article, I have got much clear idea concerning from this piece of writing.

  • May 9, 2021 at 4:12 am
    Permalink

    I’m really impressed with your writing abilities and also with the layout
    to your weblog. Is that this a paid subject or did you
    customize it your self? Anyway keep up the excellent quality writing, it is uncommon to
    peer a great blog like this one today..

  • May 15, 2021 at 2:03 pm
    Permalink

    scoliosis
    Hi there, just wanted to mention, I loved this blog post.
    It was helpful. Keep on posting! scoliosis

  • May 16, 2021 at 9:16 pm
    Permalink

    scoliosis
    When I initially commented I clicked the “Notify me when new comments are added” checkbox and now each time a comment is added I get three e-mails with the
    same comment. Is there any way you can remove people from that service?
    Cheers! scoliosis

  • May 19, 2021 at 12:36 am
    Permalink

    313106 538252Thank you for your information and respond to you. auto loans westvirginia 877266

  • May 19, 2021 at 12:25 pm
    Permalink

    scoliosis
    Can I simply just say what a relief to find someone that really knows what
    they are talking about over the internet. You certainly realize
    how to bring a problem to light and make it important.

    More and more people must read this and understand this side of the story.
    It’s surprising you’re not more popular given that
    you surely possess the gift. scoliosis

  • May 20, 2021 at 6:39 am
    Permalink

    free dating sites
    Excellent blog! Do you have any tips and hints for aspiring writers?
    I’m planning to start my own blog soon but I’m a little lost on everything.
    Would you propose starting with a free platform like WordPress
    or go for a paid option? There are so many choices out there that I’m totally confused ..
    Any ideas? Many thanks! dating sites https://785days.tumblr.com/

  • May 20, 2021 at 4:18 pm
    Permalink

    free dating sites
    Hey there! Do you use Twitter? I’d like to follow you
    if that would be ok. I’m undoubtedly enjoying your blog and look forward to new posts.
    dating sites

  • May 21, 2021 at 1:18 pm
    Permalink

    As the admin of this site is working, no uncertainty very
    rapidly it will be renowned, due to its feature contents.

  • May 26, 2021 at 10:17 am
    Permalink

    It’s awesome to go to see this website and reading the views of
    all mates about this post, while I am also zealous of getting know-how.

  • May 26, 2021 at 5:02 pm
    Permalink

    continuously i used to read smaller articles or reviews that also clear their motive, and that is also happening
    with this article which I am reading now.

  • May 29, 2021 at 9:02 am
    Permalink

    Hi to every body, it’s my first pay a visit of this website; this
    weblog contains awesome and in fact fine material in favor
    of readers.

  • May 30, 2021 at 12:27 pm
    Permalink

    Hi! I just wanted to ask if you ever have any problems with hackers?
    My last blog (wordpress) was hacked and I ended up losing
    many months of hard work due to no back up. Do you have any
    methods to prevent hackers?

  • May 31, 2021 at 12:07 am
    Permalink

    I visited multiple blogs however the audio feature for audio songs existing
    at this web site is genuinely excellent.

  • June 1, 2021 at 10:57 am
    Permalink

    I’m amazed, I have to admit. Rarely do I encounter a blog that’s equally educative and engaging, and let me tell you,
    you have hit the nail on the head. The problem is an issue that
    too few folks are speaking intelligently about. I’m very happy I stumbled across this in my hunt for something relating to this.

  • July 23, 2021 at 11:19 pm
    Permalink

    817446 80387You produced some decent points there. I looked on the net for any concern and found most individuals goes in addition to with all your site. 339257

  • August 9, 2021 at 8:05 pm
    Permalink

    Good day! This is my first visit to your blog! We are a group of volunteers and starting a new initiative
    in a community in the same niche. Your blog provided us beneficial information to work on. You have done a
    wonderful job!

  • August 10, 2021 at 11:48 pm
    Permalink

    Greetings! I know this is somewhat off topic but I was wondering which blog platform are you using for this site?
    I’m getting sick and tired of WordPress because I’ve had issues with hackers and
    I’m looking at options for another platform. I would be awesome if you could point me in the
    direction of a good platform.

  • August 16, 2021 at 5:20 pm
    Permalink

    Wow! Finally I got a webpage from where I be able to in fact
    get helpful facts regarding my study and knowledge.

  • August 17, 2021 at 4:33 am
    Permalink

    Very shortly this web page will be famous amid all blogging and site-building viewers, due to it’s good articles

  • August 22, 2021 at 1:24 pm
    Permalink

    Excellent weblog right here! Also your site rather
    a lot up fast! What host are you the usage of? Can I get your affiliate hyperlink for
    your host? I desire my website loaded up as
    quickly as yours lol

  • August 24, 2021 at 2:08 am
    Permalink

    I absolutely love your blog and find nearly all of your post’s to be exactly what I’m
    looking for. Does one offer guest writers
    to write content in your case? I wouldn’t mind writing a post or elaborating on a lot of the subjects you write with regards to here.
    Again, awesome blog!

  • August 28, 2021 at 5:46 pm
    Permalink

    I delight in, result in I found exactly what I used to be taking a look for.
    You have ended my 4 day long hunt! God Bless you man. Have a great day.

    Bye

  • August 29, 2021 at 10:47 pm
    Permalink

    I’m truly enjoying the design and layout of your site.
    It’s a very easy on the eyes which makes it much more pleasant for
    me to come here and visit more often. Did you hire out a designer to create
    your theme? Superb work!

  • August 31, 2021 at 8:56 pm
    Permalink

    618168 663830I saw two other comparable posts although yours was the most beneficial so a good deal 988102

  • September 1, 2021 at 1:35 am
    Permalink

    This is a topic which is close to my heart… Many thanks! Exactly where are your contact details though?

  • September 1, 2021 at 8:52 pm
    Permalink

    Everything is very open with a precise description of the challenges.

    It was definitely informative. Your website is useful.
    Many thanks for sharing!

  • September 2, 2021 at 12:31 am
    Permalink

    I know this web site gives quality depending
    posts and other information, is there any other site which gives these information in quality?

  • September 3, 2021 at 5:40 am
    Permalink

    Hello, I enjoy reading through your post. I like to write a little comment to
    support you.

  • September 4, 2021 at 11:34 am
    Permalink

    Hey! I know this is kind of off topic but
    I was wondering which blog platform are you using for this website?
    I’m getting tired of WordPress because I’ve had issues with hackers and I’m looking at
    alternatives for another platform. I would be awesome if you could
    point me in the direction of a good platform.

  • September 5, 2021 at 11:27 am
    Permalink

    I loved as much as you will receive carried out right here.
    The sketch is tasteful, your authored material stylish. nonetheless,
    you command get got an edginess over that you wish be delivering the following.
    unwell unquestionably come more formerly again since exactly the same nearly
    a lot often inside case you shield this hike.

  • September 5, 2021 at 12:50 pm
    Permalink

    I constantly spent my half an hour to read this blog’s content everyday
    along with a cup of coffee.

  • September 12, 2021 at 2:29 pm
    Permalink

    I was curious if you ever considered changing the page layout of your website?
    Its very well written; I love what youve got to say.
    But maybe you could a little more in the way of content so people could
    connect with it better. Youve got an awful lot of text for only having 1 or 2 pictures.

    Maybe you could space it out better? scoliosis surgery https://coub.com/stories/962966-scoliosis-surgery scoliosis surgery

  • October 25, 2021 at 6:24 am
    Permalink

    For latest information you have to visit world wide web and on world-wide-web I found this web site as
    a most excellent web page for newest updates.

  • October 25, 2021 at 12:16 pm
    Permalink

    I used to be suggested this web site by means of my cousin. I’m no longer sure whether or not this post is written via him as no one else recognise such exact about my trouble. You are amazing! Thanks!|

  • October 26, 2021 at 10:52 am
    Permalink

    Excellent post. I was checking continuously this blog and I am impressed! Very helpful information specially the last part 🙂 I care for such info a lot. I was looking for this certain info for a very long time. Thank you and good luck.|

  • October 26, 2021 at 10:57 am
    Permalink

    I’m gone to say to my little brother, that he should also pay a quick visit this
    website on regular basis to obtain updated from hottest news
    update.

  • October 29, 2021 at 5:07 pm
    Permalink

    Way cool! Some very valid points! I appreciate you penning this article and also the rest of the site is extremely good.|

  • October 30, 2021 at 3:34 pm
    Permalink

    Today, I went to the beachfront with my children. I found a sea shell and gave it to my 4 year old daughter and said “You can hear the ocean if you put this to your ear.” She put the shell to her ear and screamed. There was a hermit crab inside and it pinched her ear. She never wants to go back! LoL I know this is totally off topic but I had to tell someone!|

  • October 31, 2021 at 11:31 am
    Permalink

    This is very interesting, You are a very skilled blogger. I’ve joined your feed and look forward to seeking more of your wonderful post. Also, I have shared your site in my social networks!|

  • October 31, 2021 at 8:36 pm
    Permalink

    Thanks , I have recently been searching for info approximately this topic for ages and yours is the best I’ve discovered till now. However, what in regards to the conclusion? Are you certain concerning the supply?|

  • November 1, 2021 at 1:23 pm
    Permalink

    With havin so much content and articles do you ever run into any issues of plagorism or copyright violation? My site has a lot of unique content I’ve either written myself or outsourced but it looks like a lot of it is popping it up all over the web without my agreement. Do you know any solutions to help reduce content from being ripped off? I’d really appreciate it.|

  • November 14, 2021 at 6:22 am
    Permalink

    This piece of writing presents clear idea in favor of the new people of blogging, that in fact how to do blogging and site-building.|

  • November 27, 2021 at 9:08 pm
    Permalink

    I know this if off topic but I’m looking into starting my own blog and was wondering what all is needed to get set up? I’m assuming having a blog like yours would cost a pretty penny? I’m not very web smart so I’m not 100 certain. Any tips or advice would be greatly appreciated. Kudos|

  • November 28, 2021 at 2:45 am
    Permalink

    Just desire to say your article is as astounding. The clearness for your post is simply cool and i could assume you are an expert on this subject. Fine with your permission allow me to grasp your RSS feed to stay up to date with impending post. Thank you one million and please continue the rewarding work.|

  • December 6, 2021 at 10:08 pm
    Permalink

    I’m extremely impressed with your writing skills as well as with the layout on your blog. Is this a paid theme or did you customize it yourself? Anyway keep up the nice quality writing, it is rare to see a nice blog like this one today.|

Leave a Reply

Your email address will not be published.

%d bloggers like this: