By Sola Alabadan
The National Pension Commission (PenCom) has approved the acquisition of Investment One Pension Managers Limited by Guaranty Trust Holding Company Limited (GTCO).
The commission also approved the subsequent change of name from Investment One Pension Managers Limited to Guaranty Trust Pension Managers Limited.
PenCom announced this on its official Twitter page on Wednesday.
It would be recalled that Guaranty Trust Holding Company plc (GTCO) completed the acquisition of 100 percent shareholding in two subsidiaries of Investment One in 2021.
The subsidiaries are Pension Managers and Investment One Funds Management.
Investment One Financial Services Limited was incorporated in 2008 as GTB Asset Management, a wholly-owned subsidiary of Guaranty Trust Bank Plc.
Similarly, the pension regulator also approved the acquisition of AIICO Pension Managers Limited by FCMB Pensions Limited.
In 2021, FCMB Group had acquired a 60 percent stake in AIICO Pensions Managers.
PenCom further informed that the merger between Tangerine Pensions Limited and APT Pension Funds Managers Limited has been approved.
According to the tweet, Pencom also approved the subsequent change of name of the merged entity to Tangerine APT Pensions Limited.
PenCom said, “This is to inform all stakeholders and the general public that the National Pension Commission (PenCom) has approved the following Mergers and Acquisitions:
“The Acquisition of Investment One Pension Managers Limited by Guaranty Trust Holding Company Limited and subsequent change of name from Investment One Pension Managers 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.”