Entities linked to Oba Otudeko and Tunde Hassan-Odukale sold a total of 10.433 billion First Holdco shares to a relatively unknown company- RC Investments Management Limited, in a deal valued at N323.45 billion, the highest off-market transaction ever seen on the NGX.
According to documents obtained by BusinessDay, the buyer company is linked to one Samuel Babatunde Sule. Sule’s RC Investment acquired approximately 7.787 billion shares from Barbican Capital and RAML, entities associated with Oba Otudeko.
RC Investments also bought 2.647 billion shares from entities related to the former chairman of First Bank of Nigeria, Tunde Hassan-Odukale. The entities include Leadway Holdings, Leadway Pensure PFA, Haskal Holdings, and Leadway/NNPC Staff Pension Investment.
