Dangote Bids for Peugeot Nigeria Stake

Aliko Dangote, Africa's richest man, has teamed up with two Nigerian states to bid for a majority stake in Peugeot Automobile Nigeria (PAN) Limited, a local joint venture with the French automaker, the governor of Kaduna State has said.

Governor Nasir El-Rufai said the states of Kaduna and Kebbi, along with development lender Bank of Industry (BoI) and Dangote had submitted bids for the stake which AMCON, Nigeria's state-backed "bad bank", is looking to sell.

PAN, the Nigerian assembly plant located in Kaduna State, has Peugeot Citroen PEUP.PA as its technical partner with a capacity to assemble 240 cars a day, PAN said on its website.

"We have submitted bids for the carmaker ... with Aliko Dangote on board together with BoI, Kebbi and Kaduna State, we are confident our bid will sail through," El-Rufai told a conference.

El-Rufai did not provide further details. Bids for AMCON's stake closed on Jan. 26.

The billionaire tycoon's Dangote Group is active in cement, oil, food and sugar business, and is also expanding into farming.

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