GTCO Acquires Subsidiaries Of Investment One Financial Services

Guaranty Trust Holding Company Plc (GTCO Plc) has taken over the affairs of Investment One Pension Managers Limited (IOPM) and Investment One Funds Management Limited (IOFM).

In a statement on Monday, the Group Chief Executive Officer of GTCO Plc, Segun Agbaje, said the company took over the subsidiaries of Investment One Financial Services Limited after it acquired a 100 percent equity stake.

He said the company took over IOPM and IOFM in order to keep driving Africa’s growth by making end-to-end financial services easily accessible to every African and African business by leveraging technology and strategic partnerships.

Agbaje said the company has notified the Nigerian Exchange Group (NGX) and the public of both acquisitions, adding that the purchase of the two companies is in line with GTCO Plc’s aspirations to operate across the financial services sector value chain in Africa.

He explained that while the group is evolving as an organisation, it remains committed to its founding values which have endeared its brand to millions of people across Africa and beyond, and which continue to drive its financial success.

The statement reads: “The seller was regulated by the SEC and offers a wide range of services including Investment Management, Trust Services, Financial Advisory Services, Security Brokerage and Pension Funds Management. Forthwith, the Companies cease to be subsidiaries of the Seller and have become wholly-owned subsidiaries of GTCO Plc.

“We are very excited to get started on the next phase of our incredible journey to driving Africa’s growth by making end-to-end financial services easily accessible to every African and African Business by leveraging Technology and Strategic Partnerships. As a bank, we were always looking to meet every customer need; with our corporate reorganisation, we will be able to do more to help our customers thrive in this new world of digital technologies and unprecedented possibilities.

“As a Proudly African and Truly International brand, we will continue to live by these values – of excellence, hard work and integrity, even as we create faster, cheaper, safer and products for people and businesses through every stage of life.”

Agbaje said the acquisitions were facilitated by Exotix Advisory Limited and Vetiva Capital Management Limited as Financial Advisers, Aluko & Oyebode as Legal Adviser and Deloitte & Touche (Nigeria) as Financial Due Diligence Adviser.