AMCON Moves to sell Peugeot Automobile to Dangote and Two Nigerian States

AMCON to sell Peugeot Automobile to Dangote, Kebbi, Kaduna states

Dangote, Africa’s richest man, in alliance with the Kaduna, Kebbi states and the Bank of Industry, made a bid to acquire a majority stake in PAN last year after AMCON moved to sell off some of the assets it acquired in the wake of the banking crisis.

The automaker is worth over N15 billion.

Peugeot Automobile, a Nigerian vehicle assembly plant located in Kaduna State, has Psa Peugeot Citroen as its technical partner with a capacity to assemble 90,000 cars a year.