The board of directors of UAC of Nigeria PLC (“UAC”) is pleased to announce that a binding agreement has been signed with Custodian Investment PLC (“Custodian”) for Custodian to purchase a 51 percent equity interest in UACN Property Development Company PLC (“UPDC”) from UAC (the “Transaction”).
This agreement marks the beginning of a partnership between Custodian and UAC that will achieve both companies’ respective objectives in the real estate industry. It also marks a significant milestone aligned with UAC’s strategy to focus on its core businesses.