BUA Group has dismissed reports claiming its Chairman, Abdul Samad Rabiu, submitted a $1.1 million (over ₦ 1.5 billion) bid to acquire a 70 per cent stake in Nigeria Premier Football League (NPFL) side Kano Pillars.
Earlier reports alleged that Rabiu, one of Africa’s wealthiest businessmen, had offered about $1.1 million to acquire a controlling stake in the four-time Nigerian champions.
The reports further claimed the proposed deal would allow the Kano State government to retain a minority stake while handing operational control of the club to the industrial conglomerate.
However, in a statement issued on Monday, BUA Group said the report was inaccurate and did not represent the position of either the company or its chairman.
“Our attention has been drawn to an online publication suggesting that BUA Group and its Chairman, Abdul Samad Rabiu, have submitted a bid to acquire a 70% stake in Kano Pillars Football Club,” the statement said.
“We would like to clarify that this report is inaccurate and does not reflect any position, action, or communication from BUA Group or Abdul Samad Rabiu. No such bid has been made, and there has been no engagement with any party on this matter.”
The company stressed that neither BUA Group nor Rabiu had submitted a bid to acquire any stake in Kano Pillars and that there had been no discussions or negotiations with any party regarding such a transaction.
BUA Group urged the media and the general public to disregard the reports and rely only on information released through its official communication channels.
As of the time of filing this report, neither the Kano State government nor Kano Pillars had issued an official statement on the reported takeover bid or BUA Group’s denial.
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