VFD Group Plc has finalized the divestment of its entire stake in Atiat Limited in a landmark deal valued at over ₦7 billion. The move, approved by the company’s Board, sees VFD Group offload 343,546,646 ordinary shares in its subsidiary, aligning with its strategic vision of optimizing investments in high-growth sectors.
The diversified investment firm disclosed the transaction in a statement to the Nigerian Exchange, emphasizing that the decision underscores its commitment to delivering superior value to stakeholders while positioning Atiat Limited for an independent growth trajectory.
Strategic Exit, Long-Term Vision
Speaking on the development, Nonso Okpala, Group Managing Director of VFD Group, noted that the divestment reflects the firm’s ability to unlock value and reinvest in sectors with higher growth potential.
“This transaction is a testament to the quality of our investment decisions and our focus on maximizing returns. By exiting Atiat, we are strategically redeploying capital to create more value for our investors,” Okpala stated.
Over the years, Atiat Limited has solidified its presence in Nigeria’s financial services landscape, posting remarkable financial performance. Under VFD Group’s stewardship, the company expanded its revenue base from ₦2 billion in 2021 to ₦9.7 billion in 2024, while profit before tax soared from a loss of ₦30.4 million to ₦1.4 billion within the same period. Shareholders’ funds have also surged from ₦327 million to ₦8.2 billion.
Atiat’s Next Chapter
With this transition, Atiat Limited is set to accelerate its expansion, deepening its foothold in leasing, consumer lending, and bridge financing while exploring new opportunities in banking and insurance.
“Atiat is entering a new phase of independence, armed with a solid governance framework, a strong leadership team, and a proven track record of success,” said Kanayo Eni-Ikeh, Managing Director/CEO of Atiat Limited. “We appreciate VFD Group’s contributions over the years and are confident in our ability to drive future growth and value creation.”
A Win-Win for Both Firms
The proceeds from the divestment will strengthen VFD Group’s liquidity position, enabling it to pursue new investment frontiers with high-growth potential. Meanwhile, Atiat Limited is poised to sustain its impressive trajectory, leveraging market insights, operational excellence, and customer-centric strategies to reinforce its leadership in the financial services sector.
As VFD Group continues to refine its investment portfolio with an eye on emerging opportunities, this divestment marks yet another strategic milestone in its pursuit of long-term, sustainable value creation for its investors and stakeholders.
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