Lagos, Nigeria, June 2021 – FBNQuest Merchant Bank, the investment banking and asset management subsidiary of FBN Holdings Plc, emerged as the winner of the Equity Deal of the Year category at the 2021 African Banker Awards.
The award was in recognition of the key role the organisation played as the adviser on the privatisation of Afam Power Plc and Afam Three fast Power Limited for the Bureau of Public Enterprises on behalf of the National Council on Privatisation. This affirms the organisation’s strong performance as a leading Investment Bank. The African Banker Awards has become one of the most respected and recognised industry events celebrating achievements in the African banking industry. The organisers of the award, this year put emphasis to recognise and reward institutions that contributed to the real economy which has suffered from the impact of COVID-19 as well as contributed to women empowerment on the continent.
FBNQuest Merchant Bank acted as the Financial Adviser & Consortium Lead on the privatisation of Afam Power and Afam Three Fast Power transaction. The transaction provided an opportunity to add to the organization’s impressive portfolio and highlight its capabilities for the successful execution of sizeable transactions. The successful completion of the transaction represents a landmark achievement in the Nigerian economy and the continuous commitment to the reformation of the Power sector in the country, by allowing the private sector to bring effectiveness and efficiency, thus leading to increased advancement in the sector.
Commenting on the award, Patrick Mgbenwelu, Group Executive/Head Investment Banking and Operations stated that, “FBNQuest remains committed to consistently providing financial solutions that will enable our clients to make a difference, and we are honored to be recognized by the African Banker, which is a reflection of the quality of support we give our clients.” he stated.
FBNQuest Merchant Bank has maintained a consistent strong position in the investment banking sub sector in Nigeria, with a rich pedigree in offering alternatives to traditional bank debt products and a reputation for the successful execution of several big-ticket capital markets and commercial debt transactions. The Advisory and Debt Capital Markets teams have advised on several landmark domestic and cross-border transactions, successfully raising equity and debt from the public and private capital markets.
FBNQuest is the unified brand name for the Merchant Banking and Asset Management businesses of FBN Holdings Plc, one of the strongest and most dependable financial service groups in sub-Saharan Africa.
The businesses include FBNQuest Merchant Bank, FBNQuest Asset Management, FBNQuest Securities, FBNQuest Capital, FBNQuest Trustees and FBNQuest Funds.
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