AMCON To Sell Peugeot To Dangote, Kaduna And Kebbi State

According to Asset Management Company of Nigeria (AMCON), the sale of Peugeot Automobile Nigeria Ltd (PAN) to Aliko Dangote, Kaduna and Kebbi State is about to be completed. Dangote is the richest man in Africa and he will be sharing ownership of the company with both states.

AMCON’s Chief Executive, Ahmed Kuru, told Reuters that the entire process on the bids were completed about two months ago and all that is left is the approval of the Central Bank of Nigeria (CBN).

Dangote, Kaduna state, Kebbi state and the Bank of Industry made a bid to acquire majority stake in PAN last year after AMCON moved to sell off some of PAN’s assets due to financial crisis.

The automaker which is worth over N15 billion has an assembly plant with a capacity to assemble 90,000 cars yearly in Kaduna.

See Related Post: Would You Buy This 1982 Peugeot 504 Station Wagon For ₦6million

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