Premier Paints in Talks to Sell 51% Stake to Xenergi in Major Deal

Premier Paints PLC's majority shareholders, including Clover Global Resources Limited and TGHL Capital Limited, are discussing the potential sale of a 51% stake to Xenergi. This transaction, if completed by January 31, 2026, would result in Xenergi acquiring a controlling interest in Premier Paints.

Xenergi, a member of the Oildata Energy Group, specializes in converting natural gas into cleaner energy products. Premier Paints, a Nigerian paint manufacturer, operates in various sectors, including industrial, marine, automotive, and decorative paints.

The company's market capitalization is N1.23 billion with 123 million outstanding shares. Premier Paints' shares were suspended from trading on the NGX due to a failure to file its financial statements.