Access Bank Plc has announced plans for the acquisition of 100 percent
\nof Cavmont Bank Limited, a Zambia-based financial institution.<\/p>\n
The bank disclosed this in a regulatory filing to the Nigerian Stock
\nExchange (NSE) signed by Mr. Sunday Ekwuochi, its Company Secretary.<\/p>\n
It said the acquisition plan would be consummated through its Zambian
\nsubsidiary, Access Bank Zambia Limited.
\n\u201d Access Bank has entered into exclusive discussions with Cavmont
\nCapital Holdings Zambia Plc, regarding a potential transaction between
\nAccess Bank Zambia and Cavmont Bank Limited.<\/p>\n
\u201cThe potential transaction relates to the sale of 100 percent of Cavmont
\nCapital interest in Cavmont Bank to Access Bank Zambia,\u201d it stated.<\/p>\n
The bank explained that there was no certainty yet on agreement or terms
\nof the transaction.<\/p>\n
It, however, urged investors to exercise caution when dealing with
\nAccess Bank\u2019s securities until a full announcement was made.
\nThe bank noted that \u201cthe completion of a transaction would be subject to
\nformal regulatory approvals.\u201d<\/p>\n
The News Agency of Nigeria (NAN) reports that the acquisition would be
\nthe second across Africa having acquired Transnational Bank Limited of
\nKenya.<\/p>\n","protected":false},"excerpt":{"rendered":"
Access Bank Plc has announced plans for the acquisition of 100 percent of Cavmont Bank Limited, a Zambia-based financial institution. The bank disclosed this in a regulatory filing to the…<\/p>\n","protected":false},"author":1,"featured_media":72060,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-74740","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n