Home Companies&Markets Access Bank Plc nears multi-million dollars merger deal with Cavmont Bank Zambia

Access Bank Plc nears multi-million dollars merger deal with Cavmont Bank Zambia

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Access Bank Plc says it is not downsizing or closing branches

THUR, JULY 09 2020-theG&BJournal-Access Bank Plc subsidiary, Access Bank Zambia is closing in on a deal for a 100% acquisition of Cavmont Capital’s interest in its subsidiary, Cavmont Bank Zambia.

Access Bank Zambia and Cavmont Capital are already in advance stage of discussions regarding the potential transaction.

Access Bank Plc said Wednesday however, ‘’there can be no certainty that a transaction will be agreed, nor as to the terms of any such agreement.’’ It added that ‘’the completion of a transaction would be subject to formal regulatory approvals.’’

Access Bank Plc said in a note to the Nigerian Stock Exchange (NSE) that it will update the market as appropriate and in accordance with its disclosure obligation.

It advised shareholders to exercise caution when dealing in Access Bank’s securities until a full announcement is made.

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