Aliko Dangote, Africa’s richest man, has made a bid for a majority stake in automaker Peugeot Automobile Nigeria (PAN) Limited.Nasir El-Rufai, the Governor of Nigeria’s Kaduna state, told journalists on Thursday that Dangote is a key member of a consortium that has applied to acquire the majority stake in the company which is currently owned by Nigeria’s state-backed “bad bank”, the Asset Management Corporation of Nigeria (AMCON).
The consortium is made up of Aliko Dangote, Kaduna and Kebbi states, as well as the Bank of Industry (BoI).
“We have submitted bids for the car-maker with Aliko Dangote on board together with BoI, Kebbi and Kaduna State, we are confident our bid will sail through,” El-Rufai told a conference, without providing further details.
Peugeot Automobile of Nigeria Ltd. (PAN), a joint venture between the Nigerian government and the French automaker, was founded in 1972 and is headquartered in Kaduna, Nigeria. The company manufactures and markets motor vehicles under the brand name Peugeot. Some of its popular models include the passenger cars 206, 306,307, 406, 607 and Partner, among others.
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