Greenoaks Global Holdings Ltd. signed share purchase agreement to acquire 92.8% stake in Union Assurance Company Plc from Union Bank of Nigeria Plc (NGSE:UBN), Union Homes Savings and Loans Plc (NGSE:UNHOMES), Williams Street Trustees Limited, Union Properties Limited and others subsequent to the year ending December 31, 2013. For the year ended December 31, 2013, Union Assurance reported operating income of NGN 1.4 billion, loss before income tax of NGN 2.3 billion, net loss of NGN 2.5 billion, total assets of NGN 9.1 billion and total liabilities of NGN 6.4 billion. Asue Ighodalo, Andrew Borda, Stefan Olofsson, Owolabi Salami, Segun Adesanya, Okanlawon Adelagun, Dickie Agumba Ulu, and Godwin Odah (Managing Director) would join the board of Union Assurance Company.