SEC seeks international collaboration on mergers, acquisitions

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 Stanley Opara

The Securities and Exchange Commission has expressed its readiness to collaborate with relevant international agencies to ensure that the growth of merger and acquisition options in the country is sustained.

The Director-General, SEC, Mounir Gwarzo, stated this when he received a delegation of experts in mergers and acquisitions  from the United States of America and South Africa, led by Molly Askin in Abuja on Tuesday.

Gwarzo stated that transactions in mergers and acquisitions were growing in the country and there was the need for proper training to ensure that the tempo of growth was sustained. He commended the team for their interest in assisting Nigeria in the area of capacity building.

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He said, “Currently we are reviewing our laws to ensure that the areas that need to be strengthened are given attention for the overall benefit of the market.

“Some companies have been escaping our radar due to capacity deficiency in mergers and acquisition, but with the various trainings we have received, we have been able to perform better and this has led to an increase in mergers in the last four years.”

In her remarks, leader of the group, Molly Askin of the Federal Trade Commission, USA, stressed the need for the country to have an effective completion law regime in place that would be consistent with what is obtainable in other jurisdictions.

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Askin expressed the willingness of her team to assist in reviewing relevant laws that affect competition and consumer protection in the country.

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