By Chike Onwuegbuchi
Access Bank Plc has entered into exclusive discussions with Cavmont Capital Holdings Zambia Plc on a possible acquisition of Cavmont Bank Limited.
In a regulatory filing at the Nigerian Stock Exchange (NSE), Access Bank said the discussions bothered on a\u201dpotential transaction\u201d between Access Bank Zambia and Cavmont Bank Limited, a wholly owned subsidiary of Cavmont Capital.
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\u201cThe potential transaction relates to the sale of 100 per cent of Cavmont Capital\u2019s 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\u201d, the Nigerian bank said .It did not disclose details of what offer it had made or would make to the Zambia bank.
According to Access Bank, the completion of a transaction would be subject to formal regulatory approvals.<\/p>\n\n\n\n
\u201cAccess Bank will update the market as appropriate and in accordance with its\u2019 disclosure obligations,\u201d it said.
Accordingly, shareholders are advised to exercise caution when dealing in Access Banks securities until a full announcement is made.
Source: Commsweek<\/p>\n<\/body>","protected":false},"excerpt":{"rendered":"
By Chike OnwuegbuchiAccess Bank Plc has entered into exclusive discussions with Cavmont Capital Holdings Zambia Plc on a possible acquisition of Cavmont Bank Limited.In a regulatory filing at the Nigerian Stock Exchange (NSE), Access Bank said the discussions bothered on a\u201dpotential transaction\u201d between Access Bank Zambia and Cavmont Bank Limited, a wholly owned subsidiary of […]<\/p>\n","protected":false},"author":2,"featured_media":1151,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/thecustomsstreetjournal.com\/wp-content\/uploads\/2020\/07\/Herbert-Wigwe-2.jpeg?fit=290%2C174&ssl=1","_links":{"self":[{"href":"https:\/\/thecustomsstreetjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/1150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thecustomsstreetjournal.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thecustomsstreetjournal.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thecustomsstreetjournal.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thecustomsstreetjournal.com\/index.php\/wp-json\/wp\/v2\/comments?post=1150"}],"version-history":[{"count":1,"href":"https:\/\/thecustomsstreetjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/1150\/revisions"}],"predecessor-version":[{"id":1152,"href":"https:\/\/thecustomsstreetjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/1150\/revisions\/1152"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thecustomsstreetjournal.com\/index.php\/wp-json\/wp\/v2\/media\/1151"}],"wp:attachment":[{"href":"https:\/\/thecustomsstreetjournal.com\/index.php\/wp-json\/wp\/v2\/media?parent=1150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thecustomsstreetjournal.com\/index.php\/wp-json\/wp\/v2\/categories?post=1150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thecustomsstreetjournal.com\/index.php\/wp-json\/wp\/v2\/tags?post=1150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}