Xenergi acquired 61,003,350 shares in Premier Paints Plc, a 49.60% stake, in June 2026 after approvals from the FCCPC, the SEC and the Nigerian Exchange. The sellers included Clover Global Resources Limited and TGHL Capital Limited.
Under section 142(4) of the Investments and Securities Act 2025, Xenergi then made a mandatory takeover offer for up to 2,000,000 further shares at ₦38.00 each, about ₦76m, open from 13 July to 7 August 2026. Full acceptance would take its holding to 51.22%. Premier Paints appointed Emeka Ene, chief executive of Oida Group, as chairman with effect from 31 August 2026.
