New core investor, Nesbitt, to reposition PAN with $150m

Following the takeover of PAN Nigeria Limited, Kaduna, the new core investor, Nesbitt Investment Nigeria Limited, has announced plans to inject a total of $150 million (about N5.7b) in the next three years to “awaken this huge sleeping giant of immense economic potential.”
 
The formal handover at the Kakuri factory confirmed Daily Sun’s story on this page weeks ago (on Monday, September 21), in which it was exclusively reported that the Asset Management Corporation of Nigeria (AMCON) was concluding plans to sell the premier auto plant to new venture capitalists.
 
Speaking at the handover ceremony on Monday, October 19, PAN Nigeria chairman, Hon. Ahmed Wadada Aliyu, said the new owners were humbled and fortunate to be in the saddle, even as he thanked AMCON for the opportunity to undertake the task of repositioning the once leading auto maker in the country…
 
More details through:
https://www.sunnewsonline.com/new-core-investor-nesbitt-to-reposition-pan-with-n5-7b/
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