Selection of Legal Adviser(s) for the Divestment of AMCON’S Shareholding in Pan Nigeria Limited
AMCON
Asset Management Corporation of Nigeria
Selection of Legal Adviser(s) for the Divestment of AMCON’S Shareholding in Pan Nigeria Limited
Request for Proposals (“RFP”)
The Non-performing Loans (NPL) of PAN Ltd with Eligible Financial Institutions (EFI) were purchased by AMCON at various phases of EBA purchases. The settlement sum was restructured on September 30, 2012 into equity investment and term loan.
PAN Nigeria Ltd was set up in 1972 as a joint venture between the Federal Government of Nigeria and Automobiles Peugeot, S.A of France and incorporated as a limited liability company with an installed capacity of 60,000 Peugeot cars which rose to 90,000 in the 1980s.
AMCON currently owns 79% equity capital of PAN Nigeria Ltd and has commenced the divestment process for its shareholding in the company.
AMCON is seeking proposals from leading Law Firms for the provision of legal and transactional advisory services towards the divestment of its equity shareholding in PAN Nigeria Ltd.
Interested advisers must provide information confirming they are qualified to perform these services. Each interested party should submit a proposal detailing the following, as a basis for selection:
- Demonstrable experience in similar transactions
- Recommended transaction approach
- Indicative timetable
- Experience of key team members
- Proposed fee structure
- Potential conflicts of interest
AMCON now invites Law Firms to respond to its Request for Proposals to act as Legal Adviser to AMCON on the divestment of its equity stake in PAN Nigeria Ltd. The RFP will be available on, and can only be downloaded from, AMCON’s website (http://www.amcon.com.ng/rfp-pan.aspx) from 12:00 pm (Nigerian Time) on Wednesday, March 25, 2015.
Advisers will be selected according to the procedures and criteria outlined in the RFP
Proposals from Legal Advisers must be received on or before 5:00 pm on Tuesday, April 7, 2015.
Only selected advisers shall be notified of the outcome of the selection process.
Head Office:
3rd Floor, Murjanatu House,
1, Zambezi Crescent
Off Aguiyi Ironsi Street
Maitama – Abuja.
Tel; 09-8761892-3, 09-8122820, 8122822, 8122824
Lagos Office:
8th Floor, Mulliner Tower
39, Alfred Rewane Road
(Old Kingsway Road)
Ikoyi, Lagos.
Tel: 01 -2773100-299
Signed:
Kayode Lambo
Head, Corporate Communications, Strategy & Research
ASSET MANAGEMENT CORPORATION OF NIGERIA
To Download the Request for Proposals,
Visit AMCON’S WEBSITE: http://www.amcon.com.ng/rfp-pan.aspx
