Premier Paints Plc has disclosed that its majority shareholders, Clover Global Resources Limited and TGHL Capital Limited, are in discussions to divest their combined controlling stake in the company to Xenergi Limited.
In a notification dated December 16, 2025, and issued in Ogun State, the company said its Board has been formally informed of the potential transaction involving the sale of a combined 51 percent equity interest, equivalent to 63 million shares.
Clover Global Resources Limited currently holds a 39.02 percent stake in Premier Paints, while TGHL Capital Limited owns 15.20 percent.
If consummated, the transaction would result in Xenergi Limited emerging as the new majority shareholder of the company.
Premier Paints noted that the proposed divestment remains subject to the receipt of all required regulatory approvals. The company expects the transaction, if approved, to be completed before January 31, 2026.
The company added that it will continue to keep shareholders, the Nigerian Exchange Limited, and the investing public informed of material developments regarding the proposed transaction.
The disclosure was signed by Alozie Nwokoro of AMN Practice, Company Secretary to Premier Paints Plc.