Premier Paints’ new core investor, Xenergi, launches a tender offer for minority shares (opens original article in a new tab)

Xenergi, Premier Paints' new core investor, has launched a tender offer for 2 million shares, offering N38 per share to minority shareholders, aiming to increase its stake to 51%.

• Xenergi Limited, Premier Paints' new core investor, launched a tender offer for 2 million ordinary shares (1.6% equity interest) in the company.
• The tender offer, open from 22 June to 17 July, offers N38 per share to eligible shareholders, higher than the current share price of N33.75.
• Xenergi previously acquired 49.6% of Premier Paints' shares and aims to increase its stake to 51% through this offer.