March 01, 2017 1:17 PM ET

Capital Markets

Company Overview of AMCON, Inc.

Company Overview

AMCON, Inc. revives financial systems by resolving non-performing loan assets of banks in the Nigerian economy. The company acquires eligible bank assets from eligible financial institutions, and puts these assets to economic use in a profitable manner. AMCON, Inc. was founded in 2010 and is based in Abuja, Nigeria.

3rd Floor, Murjanatu House

1, Zambezi Crescent

Off Aguiyi Ironsi Street

Maitama

Abuja,  

Nigeria

Founded in 2010

Phone:

234 9 8761892

Key Executives for AMCON, Inc.

Chief Executive Officer, Managing Director and Director
Executive Director of Finance & Operations and Director
Executive Director
Executive Director of Credit and Director
Compensation as of Fiscal Year 2016.

AMCON, Inc. Key Developments

Amcon To Sell Keystone

AMCON, Inc. is to sell Keystone Bank Limited, which is under its custody. AMCON is set to announce new owners for Keystone, despite some stakeholders being opposed to the move. Keystone is believed to be one of the last three national financial institutions to be sold. It is believed that a firm linked to Atiku Abubakar, former vice president and Umar Modibbo, Managing Director and Chief Executive Officer of Sigma Pensions Limited, may emerge as the new owner of Keystone.

AMCON Seeks To Sell Assets

AMCON, Inc. is seeking to sell non-performing assets. Ahmed Kuru, Chief Executive Officer said that the company plans to sell the properties when the economy improves and the assets can attract fair value.

Duet Private Equity and Asset Management Corporation of Nigeria Launch New PE Fund Focused on Distressed Nigerian Companies

Duet Private Equity and Asset Management Corporation of Nigeria (AMCON) signed an exclusive agreement to establish an investment fund focused on Nigeria's fast-moving consumer goods (FMCG) sector. The new fund will launch with an initial target size of $400 million (€363 million) and its portfolio will consist exclusively of food and beverage companies with local brands. AMCON will contribute six portfolio companies currently under its control and the fund will invest an additional $200 million (€182 million) into these six companies.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
June 14, 2016
Amak Arnolds Nigeria Limited
 

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