Access Bank completes acquisition of Cavmont Bank Zambia

ZAMBIA – The management of Access Bank Plc has announced that its Zambian subsidiary has completed the acquisition of Cavmont Bank Limited. The bank said the acquisition followed the fulfilment of key conditions, including regulatory approvals. Access bank made this known in a disclosure notice sent to the Nigerian Stock Exchange (NSE). In July 2020, Access Bank in Nigeria announced plans by its Zambian subsidiary to acquire Cavmont Bank Limited, a subsidiary of Cavmont Capital. The bank said at the time that it had “entered into exclusive discussions” with Cavmont…

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Nigeria’s Access Bank to acquire Zambia’s Cavmont Bank

ZAMBIA – Access Bank Zambia, a subsidiary of Nigeria’s Access Bank Plc, has reached a definitive agreement with Cavmont Capital Holdings Zambia Plc (CCHZ) to acquire Cavmont Bank Ltd. According to a statement by Access Bank, the deal is a highly complementary transaction that is expected to combine Access Bank Zambia’s wholesale and trade finance capabilities with Cavmont Bank’s retail and commercial banking operations. The proposed transaction which, in the meantime is still subject to relevant shareholder and regulatory approvals, is also expected to better position Access Bank Zambia as…

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