Investment firm VFD Group sells subsidiary Atiat for N7bn

VFD Group Plc, a proprietary investment company, has announced the full divestment of its 343,546,646 ordinary shares in Atiat Limited, a key subsidiary that provides leasing and lending services.

The company said on Friday that its 57.26% stake in Atiat was sold for over N7 billion, without disclosing the entity that bought it.

“This transaction marks an important milestone for both companies, underscoring VFD Group’s commitment to delivering superior value to its stakeholders while positioning Atiat for an exciting new chapter of growth and expansion,” it said in a statement.

VFD said the decision to divest “aligns with [its] strategic framework, which emphasises optimising its portfolio by directing resources toward high-growth opportunities”.

Nonso Okpala, group managing director of VFD Group, said: “This transaction is a testament to the quality of our investment decisions and our ability to unlock value for our investors.

“The divestment of our stake in Atiat Limited is a strategic move that allows us to redeploy capital into higher-growth opportunities while maintaining our focus on delivering exceptional returns for institutional and retail investors.”

The company said Atiat has evolved into “a formidable player in Nigeria’s financial services sector” over the years, describing the divestment as “a natural next step in Atiat’s growth journey, allowing it to chart an independent course while capitalising on new opportunities in the financial ecosystem”.

“This is not just a transition; it is an opportunity to accelerate our growth and drive even greater value for our investors, customers, and partners,” said Kanayo Eni-Ikeh, managing director/CEO of Atiat. “We are grateful for VFD Group’s contributions over the years, and we look forward to building on this strong foundation as we expand our offerings, strengthen our market position, and pursue new frontiers of success.”