Dangote Openly Welcomes Otedola’s Potential Takeover at Dangote Cement Event
Aliko Dangote, the President and Chief Executive of Dangote Industries Limited, publicly stated on Friday that his friend and fellow billionaire businessman, Femi Otedola, is more than welcome to consider taking over Dangote Cement.
This announcement was made during the Dangote Cement customers’ appreciation event held in Lagos.
Warm Welcome for Otedola as Newest Shareholder
Dangote introduced some dignitaries during the event and urged everyone present to extend a warm welcome to Femi Otedola, highlighting him as the company’s newest shareholder.
Acknowledging the concerns of some who fear a potential takeover, Dangote assured that Otedola is permitted to carry out similar actions as he did with Transcorp, indicating a receptive attitude towards the idea.
Dangote’s Supportive Stance on Otedola’s Possible Actions
Addressing the audience, Dangote remarked, “We must also welcome our newest shareholder, Femi Otedola.
There are people who fear that he is going to do the same thing he did at Transcorp; I say he’s welcome.”
This public endorsement from Dangote underscores a supportive stance toward Otedola’s involvement in the affairs of Dangote Cement.
Otedola’s Strategic Investment in Dangote Cement Confirmed
Earlier in the week, Femi Otedola confirmed his “significant acquisition of shares in Dangote Cement” through a statement.
Otedola expressed confidence in Dangote Cement’s potential to contribute to Nigeria’s economic resilience and generate foreign exchange for the country.
He highlighted the company’s unique position with two export terminals and its pan-African presence as factors contributing to its attractiveness as an investment choice.
Otedola’s Previous Stake in Transcorp as a Precedent
In April 2023, Femi Otedola acquired a 5.52% stake in Transcorp Plc, becoming the second-largest shareholder in the company.
This move, coupled with his recent stake in Dangote Cement, positions Otedola as an influential figure in the business landscape, emphasizing his commitment to supporting businesses contributing to Nigeria’s economic growth.