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UTB Reappointed for Nafcon Privatisation In view of its long standing reputation in the provision of customer services in the financial services industry the federal government through the National Council on Privatisation (NCP) and the Bureau of Public Enterprises (BPE) has once again reappointed Universal Trust Bank Plc, as the Lead Financial Adviser for the full privatisation of National Fertiliser Company of Nigeria (NAFCON), and the sourcing of a strategic core investor for the company. The appoinment of UTB is in line with the federal government's desire for a speedy and transparent privatisation of the fertilizer plant. According to the letter endorsing the choice of UTB by the Bureau of Public Enterprises (BPE), the National Council on Privatisation (NCP), has mandated the Bank to play the major role in sourcing and screening of strategic core investors for the fertilizer plant based in Onne, Rivers State. NAFCON was established to utilize the abundant natural gas resources in the local manufacture of fertilizer for use by Nigerian farmers as a strategic policy aimed at improving and sustaining agricultural production. Specifically, UTB has been mandated to lead a team that would conduct due diligence in the core areas of financial analysis, asset and business valuation, corporate and human resources analysis and accounting functions, technical engineering amongst others. In addition, UTB shall assist BPE in developing the structure and the timing of the bidding /sale procedure to be carried out for the transaction, including how offers will be evaluated. For UTB, the NAFCON privatization mandate is a strategic move by the Bank to deepen its investment banking portfolio and position itself as a leading universal banking service provider. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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