Access Bank Subsidiary seeks to buy Zambian bank

0
Access Bank, FBN Leads As Nigerian Banks Earn N200 Billion From e-commerce in 2021
Access Bank, FBN Leads As Nigerian Banks Earn N200 Billion From e-commerce in 2021

Access Bank Plc announces today that its wholly-owned subsidiary in Zambia, Access Bank Zambia Limited has entered into exclusive discussions with Cavmont Capital Holdings Zambia Plc regarding a potential transaction between Access Bank Zambia and Cavmont Bank Limited, a wholly-owned subsidiary of Cavmont Capital.

Access Bank Subsidiary seeks to buy Zambian bank - Brand Spur

The potential transaction relates to the sale of 100% of Cavmont Capital’s interest in Cavmont Bank to Access Bank Zambia.

There can be no certainty that a transaction will be agreed, nor as to the terms of any such agreement. The completion of a transaction would be subject to formal regulatory approvals.

Access Bank will update the market as appropriate and in accordance with its’ disclosure obligations.

Accordingly, shareholders are advised to exercise caution when dealing in Access Banks securities until a full announcement is made.