Thursday, July 24, 2025
  • CONTACT US
  • PRIVACY
  • REPORT A STORY
ENTERTAINMENT — WITHIN NIGERIA
  • Home
  • Features
  • Entertainment
    • Celebrities
    • Celebrities Biography
    • E-News
    • Music
    • Nollywood
    • Opinion
    • Reality TV Shows
      • Big Brother Naija
      • Gulder Ultimate Search
  • News Picks
  • MORE
    • Gist
    • Articles
    • Videos
No Result
View All Result
ENTERTAINMENT — WITHIN NIGERIA
No Result
View All Result
  • Home
  • Features
  • Entertainment
  • News Picks
  • MORE

Otedola reportedly sells Transcorp stake to Tony Elumelu, exits firm

TheOpeyemi A.A² by TheOpeyemi A.A²
April 28, 2023
in Celebrities
Reading Time: 1 min read
A A
0
Otedola reportedly sells Transcorp stake to Tony Elumelu, exits firm

Billionaire businessman, Femi Otedola has exited his stakes in Transnational Corporation Plc (Transcorp), a publicly traded diversified conglomerate chaired by Tony Elumelu.

According to sources, Elumelu purchase Otedola shares using Transcorp’s closing price on Thursday at an options contract due to be paid in a series of instalments over time

“Both parties believed that reaching an agreement was in their best interests to do so, so the negotiations leading up to it were said to be brief but friendly. Otedola and Elemelu openly committed to collaborating to advance Transcorp’s objectives,” sources said.

The news sent shock waves across the stock market after Otedola recently upped his interest in the conglomerate Transcorp to 6.3 percent.

READ ALSO:

Why Igbos struggle in Nigerian politics – Pete Edochie explains

“A man locked in 21 bottles”: Queeneth Hilbert goes scorched earth on Yul Edochie in viral call-out

Bucci Franklin and Sunshine Rosman spark fresh romance buzz with cozy photo

Nollywood icons shower Bimbo Oshin with love on her 54th birthday

On April 15, Otedola acquired about 5.52 percent shares of Transcorp, making him a majority shareholder of the company.

Otedola’s share deal in Transcorp was done between a firm owned by the billionaire and Asset Management Corporation of Nigeria. A deal of about 1.5 billion units of Transcorp shares worth N2.1 billion was executed on the Nigerian Exchange Limited at the close of trading.

At the close of the trading session on Thursday, Transcorp closed at N3.12 per share, nearing its 52-week high of N3.24 as against its 52-week low of 0.98kobo.

RelatedPosts

Why Igbos struggle in Nigerian politics – Pete Edochie explains

Why Igbos struggle in Nigerian politics – Pete Edochie explains

July 24, 2025
“A man locked in 21 bottles”: Queeneth Hilbert goes scorched earth on Yul Edochie in viral call-out

“A man locked in 21 bottles”: Queeneth Hilbert goes scorched earth on Yul Edochie in viral call-out

July 24, 2025

Discussion about this post

ADVERTISEMENT
ENTERTAINMENT — WITHIN NIGERIA

WITHIN NIGERIA MEDIA LTD.

NEWS, MULTI MEDIA

WITHIN NIGERIA is an online news media that focuses on authoritative reports, investigations and major headlines that springs from National issues, Politics, Metro, Entertainment; and Articles.

Follow us on social media:

CORPORATE LINKS

  • About
  • Contacts
  • Report a story
  • Advertisement
  • Content Policy
  • Privacy Policy
  • Terms
 
  • Fact-Checking Policy
  • Ethics Policy
  • Corrections Policy
  • CONTACT US
  • PRIVACY
  • REPORT A STORY

© 2022 WITHIN NIGERIA MEDIA LTD. designed by WebAndName

No Result
View All Result
  • Home
  • Features
  • Entertainment
    • Celebrities
    • Celebrities Biography
    • E-News
    • Music
    • Nollywood
    • Opinion
    • Reality TV Shows
      • Big Brother Naija
      • Gulder Ultimate Search
  • News Picks
  • MORE
    • Gist
    • Articles
    • Videos

© 2022 WITHIN NIGERIA MEDIA LTD. designed by WebAndName