On November 29, FBN Holdings Plc announced its full divestment from FBNQuest Merchant Bank Limited, ending nearly a decade of ownership. The bank was acquired by EverQuest Acquisition LLP, a special-purpose consortium formed earlier in 2024 to complete the transaction.
While neither party has disclosed the cost of the deal, publicly available information provides enough context to understand the acquisition and estimate its potential value.
FBNQuest Merchant Bank began in 1995 as Kakawa Discount House. Discount houses were financial intermediaries that traded treasury bills, commercial papers, and other short-term securities.