The National Pension Commission (PenCom) on Wednesday announced the approval the acquisition of Investment One Pension Managers Limited by Guaranty Trust Holding Company Limited (GTCO) and acquisition of AIICO Pension Managers Limited by FCMB Pensions Limited.
PenCom disclosed this in a post on its official Facebook and Twitter handle.
According to the statement, PenCom said it has also approved the subsequent change of name from Investment One Pension Managers Limited to Guaranty Trust Pension Managers Limited.
The GTCO completed the acquisition of 100 per cent shareholding in two subsidiaries of Investment One.
The subsidiaries are Pension Managers and Investment One Funds Management.
Investment One Financial Services Limited was incorporated in 2008 as Guaranty Trust Bank (GTB) Asset Management, a wholly-owned subsidiary of GTB Plc.
The commission also said that the acquisition of AIICO Pension Managers Limited by FCMB Pensions Limited was approved.
In 2021, FCMB Group had acquired a 60 per cent stake in AIICO Pensions Managers.
The commission said it has approved the merger between Tangerine Pensions Limited and APT Pension Funds Managers Limited and subsequent change of name of the merged entity to Tangerine APT Pensions Limited.
The post reads, “This is to inform all stakeholders and the general public that the National Pension Commission (PenCom) has approved the following mergers and acquisitions.
The Investment of One Pension Managers Limited has caused a change of name by Guaranty Trust Holding Company Limited to Guaranty Trust Pension Managers Limited.
“The acquisition of AIICO Pension Managers Limited by FCMB Pensions Limited; and the merger between Tangerine Pensions Limited and APT Pension Funds Managers Limited and subsequent change of name of the merged entity to Tangerine APT Pensions Limited.” According to the post.
