PenCom approves M&A deals involving pension managers

By: Businessam Staff

A number of mergers and acquisition deals involving pension funds administrators have received the approval of industry regulator, the National Pension Commission (PenCom).

Information made available by PenCom named the deals for which approvals were given to include the acquisition of Investment One Pension Managers Limited by Guaranty Trust Holding Company Limited (GTCO).

GTCO, which became a holding company last year, had acquired 100 percent equity interest in Investment One Fund Management and the Investment One Pension Managers following its change from a banking to a holding company, which it said was to enable it to diversify its income generating streams from just core banking.

PenCom said it approved the acquisition and also the change of name from Investment One Pension Managers Limited to Guaranty Trust Pension Managers Limited.

Also approved by the regulator, PenCom, is FCMB Pensions Limited’s acquisition of AIICO Pension Managers Limited by FCMB Pensions Limited. FCMB Group acquired 60 percent equity interest in AIICO Pension Managers last year.

Another approval given by PenCom is the merger involving Tangerine Pensions Limited and APT Pension Funds Managers Limited, which had also led to the change of name of the merged entity to Tangerine APT Pensions Limited.