THERE is a well-known practice in the business world in which a large multinational corporation could be sold for £1 or $1, the token price tag serving only as a symbolic proof of exchange. But why would a corporate entity be sold for a token sum? Well, that often happens when a company, despite its asset-base and prospect, has been so badly mismanaged that it’s struggling to operate profitably.
Someone, usually a private-equity investor, could then buy the distressed company for a token sum, restructure and turn it around.
Continue reading If Nigeria was a PLC, it would be sold for N1 and restructured at Vanguard Nigeria.