Access Bank to Acquire 80% Stake in Ugandan Bank
Jan 19, 2024 ·
1m 1s
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Description
Access Bank, the flagship subsidiary of Access Holdings Plc, has entered into a transaction with the Ugandan-based Finance Trust Bank Limited and it’s shareholders for the acquisition of a majority...
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Access Bank, the flagship subsidiary of Access Holdings Plc, has entered into a transaction with the Ugandan-based Finance Trust Bank Limited and it’s shareholders for the acquisition of a majority equity stake in FTB.
The Company Secretary, Sunday Ekwochi, says the proposed acquisition is subject to regulatory approval.
The Holdco says that the transaction would see Access Bank acquire a majority stake from existing shareholders and inject capital to increase FTB’s capital base; “Both which are subject to regulatory approvals by the Central Bank of Nigeria and Bank of Uganda.
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The Company Secretary, Sunday Ekwochi, says the proposed acquisition is subject to regulatory approval.
The Holdco says that the transaction would see Access Bank acquire a majority stake from existing shareholders and inject capital to increase FTB’s capital base; “Both which are subject to regulatory approvals by the Central Bank of Nigeria and Bank of Uganda.
Information
Author | Africa Business Radio |
Organization | Africa Business Radio |
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