WorldStage Newsonline– As Access Bank Plc announced plans for acquisition of 100 per cent of Cavmont Bank Limited, a Zambia-based financial institution, investors have been urged to exercise caution when dealing in the bank’s securities until full announcement was made..
The bank had disclosed in a regulatory filing to the Nigerian Stock Exchange (NSE) signed by Mr Sunday Ekwuochi, its Company Secretary that the acquisition plan would be consummated through its Zambian subsidiary, Access Bank Zambia Limited.
ed that ” Access Bank has entered into exclusive discussions with Cavmont Capital Holdings Zambia Plc, regarding a potential transactions between Access Bank Zambia and Cavmont Bank Limited.
“The potential transaction relates to the sale of 100 per cent of Cavmont Capital interest in Cavmont Bank to Access Bank Zambia,” it stated.
The bank explained that there was no certainty yet on agreement or terms of the transaction.
The bank noted that “the completion of a transaction would be subject to formal regulatory approvals.”
