Corporate Divestment and Asset Disposal in Nigeria: Sale-Planning Guide
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A corporate divestment can involve selling shares in a subsidiary, transferring a business unit or disposing of selected assets. These are different transactions. A clear perimeter helps buyers understand the offer and helps the seller identify what must remain with the group.
Wigmore Trading welcomes business-disposal, subsidiary-sale and asset-disposal enquiries in Nigeria. We can discuss buyer search, commercial preparation and coordination needs. Actual authority, opportunity availability and specialist responsibilities must be established for the engagement.
Define exactly what is being sold
List shares, premises, machinery, inventory, contracts, intellectual property and other relevant items. Identify assets owned by a different group entity or financed by another party. Distinguish legal ownership from day-to-day use.
| Sale route | Questions to resolve |
|---|---|
| Subsidiary share sale | Ownership, liabilities, group connections and change-of-control provisions |
| Business-unit transfer | Contracts, employees, systems and separation arrangements |
| Selected asset disposal | Title, encumbrances, condition, permits and delivery |
| Non-core asset programme | Priorities, authority, valuation scope and buyer process |
Establish authority and restrictions
Obtain appropriate corporate, legal and other professional review of the proposed disposal. A management decision to explore a sale is not necessarily sufficient authority to complete it. Shareholder rights, financing arrangements, licences and contracts can affect the process.
For assets, verify ownership, security interests and any third-party rights. A buyer should not assume that possession establishes a clean transferable title. Determine what evidence and consents are required before marketing.
Plan the separation
A subsidiary may rely on group finance, IT, staff, procurement, premises or brand rights. Identify what the buyer will receive at completion and what needs a temporary service arrangement. Separate one-off separation costs from ongoing stand-alone expenses.
Prepare records explaining shared costs and intercompany balances. An earnings figure that depends on unpriced group support may not represent the economics of the business after sale.
Prepare information for buyers
Use an approved non-confidential summary, followed by controlled disclosure. Describe condition, operating performance and exclusions accurately. Distinguish independently reviewed information from management estimates.
For machinery or other physical assets, establish inspection, acceptance, dismantling, transport and risk-transfer responsibilities. For a business sale, qualified advisers should address liabilities, staff, contracts and completion documentation.
Coordinate approvals and commercial terms
Assess applicable merger and sector requirements with counsel. The FCCPC merger-notification resources provide a starting point; the route depends on the actual transaction. Do not assume an asset sale is automatically outside every approval process.
Define fees, disclosure permissions, negotiation roles and exclusions in the advisory engagement. A buyer introduction does not establish the sale price or authorise disposal.
Can non-core assets be sold separately from a subsidiary?
Possibly, subject to title, restrictions, commercial practicality and appropriate legal and tax review.
What should I send Wigmore?
Provide a non-confidential description of the entity or assets, broad location, reason for disposal, ownership authority and timing. Sensitive title and financial documents should follow an agreed review process.
Prepare a non-confidential enquiry brief
Note whether you are a buyer, seller, shareholder or adviser; the sector and broad location; the decision you need to support; your intended timing; and the service scope required. Separate confirmed facts from assumptions and identify who is authorised to give instructions.
Do not send private identity, employee, banking or confidential transaction records through a general sales enquiry. Agree the engagement, confidentiality and access arrangements first. This checklist does not submit information.
Related acquisition and advisory guides
- Deal Origination and Corporate Matchmaking in Nigeria: Acquisition Search
- Business Succession and Founder Exit Planning in Nigeria
- M&A Financial Modelling in Nigeria: Acquisition Scenarios and Deal Value
- Financial Due Diligence and Quality of Earnings in Nigeria
- Commercial and M&A Due Diligence in Nigeria: Scope and Checklist
- Company Verification Before Acquisition in Nigeria: Ownership and Risk Checks
- M&A Transaction Documents in Nigeria: Legal Scope and Negotiation Planning
- M&A Structuring and Corporate Restructuring in Nigeria: Options to Review
- Business Valuation in Nigeria: Company, Equity and Acquisition Value
Discuss your transaction-support requirement with Wigmore Trading
Send a non-confidential brief. Our team can discuss the appropriate commercial, search or coordination scope and the named specialist support required. Fees, responsibilities, professional appointments and deliverables are agreed for the engagement.
Discuss corporate divestment advisory Nigeria on WhatsApp · Book an initial consultation · Email an enquiry
Updated 3 November 2026. This is general process guidance; it does not establish a legal, tax, audit, valuation or financing opinion, a live deal listing or a guarantee of completion.
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