ASSET MANAGEMENT CORPORATION OF NIGERIA (AMCON)
APPOINTMENT OF FINANCIAL ADVISER(S) FOR THE DIVESTMENT OF AMCON’S EQUITY SHAREHOLDING IN CONSOLIDATED DISCOUNTS LIMITED (CDL)
CDL was incorporated on the 16th of November, 1995 and licensed as a discount house by CBN on the 14th of August, 1996 to trade in government securities, provide discount and rediscount services, transact in commercial papers and eligible financial instruments.
Due to Capital erosion of CDL, CDL received an intervention by way of equity from AMCON in 2013. AMCON currently owns the entire equity capital of CDL with its office located in Lagos, Nigeria. CDL has two subsidiaries, CDL Asset Management Ltd (CAM) and CDL Capital Markets Ltd (CCAP). CAM was created to provide wealth management and issuing house services regulated by SEC while CCAP was incorporated in 2007 to provide stockbroking and wealth management services to CDL and other clients and it is regulated by SEC. CDL is currently managed by an Administrator.
AMCON is seeking proposals from leading Investment Banks for the provision of Financial and Transactional Advisory Services towards the divestment of its equity shareholding in Consolidated Discounts House Ltd.
Interested advisers must provide information confirming they are qualified to perform these services. Each interested party should submit a proposal detailing the following, as a basis for selection:
• Demonstrable experience in similar transactions
• Recommended transaction approach
• Indicative timetable
• Experience of key team members
• Proposed fee structure
• Potential conflicts of interest
AMCON now invites Financial Advisory Firms to respond to its Request for Proposals to act as Financial Adviser to AMCON on the divestment of its equity stake in Consolidated Discounts Limited. The RFP will be available on, and can only be downloaded from, AMCON’s website (http://www.amcon.com.ng/rfp-CDL.aspx) from 12:00pm (Nigerian Time) on Thursday, April 20, 2017.
Qualified International Financial Advisers or Investment Bank, who are not registered by the Nigerian Securities & Exchange Commission to provide this function, must form a consortium with a SEC-registered Issuing House.
Advisers will be selected according to the procedures and criteria outlined in the RFP.
Proposals from Financial Advisers must be received on or before 5:00pm (Nigerian Time) on Wednesday, April 26, 2017. Only selected advisers shall be notified of the outcome of the selection process. You can send soft copy of the proposal to: email@example.com
To download the request for proposals, visit AMCON’S website: http://www.amcon.com.ng/rfp-CDL.aspx