WorldStage Newsonline– Access Holdings Plc has announced that its flagship subsidiary, Access Bank Plc has entered into a definitive agreement with Ugandan-based Finance Trust Bank Limited (FTB) and its Selling Institutional Shareholders for the acquisition of a majority equity stake in FTB
In a notice at the Nigerian Exchange, Access Bank is to own about 80% stake in FTB at the conclusion of the deal.
Specifically, the transaction involves Access Bank’s acquisition of a majority stake from existing shareholders and a capital injections to increase its capital base, both which are subject to regulatory approvals by the Central bank of Nigeria and Bank of Uganda.
