Africa's richest man Dangote bids for Peugeot Nigeria stake -governor - CNBC Africa

Africa's richest man Dangote bids for Peugeot Nigeria stake -governor

Western Africa

by Reuters 0

Africa's richest man is set to bid for a majority stake in Peugeot Automobile Nigeria, teaming up with two Nigerian states. Photo: Wikipedia

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.

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