Africa’s richest man Dangote bids for Peugeot Nigeria stake

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LAGOS (Reuters) – Aliko Dangote, Africa’s richest man, has teamed up with two Nigerian states to bid for a majority stake in Peugeot Automobile Nigeria (PAN) Limited, a local joint venture with the French automaker, the governor of Kaduna State said on Thursday.

Governor Nasir El-rufai said the states of Kaduna and Kebbi along with development lender Bank of Industry (BoI) and Dangote have submitted bids for the stake which AMCON, Nigeria’s state-backed “bad bank”, is looking to sell.

 

(Reporting by Oludare Mayowa; writing by Chijioke Ohuocha; editing by Jason Neely)

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