Following the sale of Keystone Bank to Sigma Golf-Riverbank Consortium by the Asset Management Corporation of Nigeria (AMCON), the new investors have finally taken possession with a view to repositioning the bank immediately.

A statement from the bank said the handover took place last Friday after the Completion Board Meeting to consummate the acquisition and pave way for the takeover was held the previous day (Thursday) with representatives of Sigma Golf-Riverbank Consortium (the Buyer), AMCON (the Seller), Board and Management of Keystone Bank as well as the advisers to the buyer (KPMG Professional Services, Boston Advisory Services, Giwa Osagie & Co., Pan-African Capital Limited) and the Seller (FBN Capital Limited, Citibank Nigeria Limited, Banwo & Ighodalo, CrosswrockLaw).

Recall that AMCON had announced on Tuesday 21stMarch 2017 that Sigma Golf-Riverbank Consortium had acquired Keystone Bank Limited. The Completion Meeting signified the effective hand-over of the bank to the buyer and the commencement of a transition process that will culminate in the reconstitution of the Board and Management of the bank to reflect the new ownership.

Keystone Bank, formerly Bank PHB, was taken over by AMCON in 2011 and has been managed by the AMCON-appointed board and management which stabilised the bank over the years to make it attractive as potential new investors, who emerged as preferred bidders after a very transparent and competitive bidding process.

Analysts believe that the emergence of the Sigma Golf-Riverbank Consortium will bring a new lease of life to Keystone Bank with the expected injection of fresh capital that would position the bank to play competitively in the industry and actualize its full potentials.
“In moving the bank forward as a major player in the industry, the new investors will be backed up by a pool of reputable professionals both currently within the bank and across the industry.
“Keystone Bank, therefore, assures all its stakeholders that the transition process will reposition the bank to serve its customers better, creating enhanced value for all stakeholders”, the statement added.


READ MORE: http://theicon.ng/2017/03/27/amcon-hands-keystone-bank-new-investors/

How many times will this bank be re-sold?

Remaining Heritage Bank

jom28gy:
How many times will this bank be re-sold?

They will keep on reselling until their is nothing to sell again

Golf ke? They will use our money to play golf be dat ooo

AMCOM will not do a Fit and Proper Person test on the members of the board of the buyers.

Sell it to themselves.
25 billion for a commercial bank??

Whoever the buyers are deserve an award for the Deal of the Century.

This will even eclipse Access Bank buying Intercontinental Bank.

Dem go change the name

Can you lift the veil of incorporation and let us see those who are behind th Golf-Riverbank Consortium who took over Keystone bank for a paltry N25 billion.

OK then what!!!!

They should do the same to Skye Bank asap

will the name change

Meanwhile,


https://www.youtube.com/watch?v=U6e9yl-CKDE

Stephany otobo's mother came to Omega fire ministry to beg apostle suleman on behalf of her daughter. She practically went down on her knees to beg the pastor to forgive her daughter.

Hope my money is safe ooo...
No matter how little it might be...
It's my money

Again?!!

Hope my # is safe!

Heya

And I have a frozen account with that bank.... Just hope. My cash is safe

jom28gy:
How many times will this bank be re-sold?

I never buy am... Still saving up the money

25billion. . That means the banks liabilities is 4/5 times that amount

Hmmm...

I hope it doesn't affect the staff working there , because those BOD will bring in their people to start running the show.

datola:
Can you lift the veil of incorporation and let us see those who are being th Golf-Riverbank Consortium who took over Keystone bank for a paltry N25 billion.

Nice one efiwe, Your CAMA game is strong

DEM DON DASH SOMEONE ANOTHER PERSON'S HARDWORK.

Do a corporate search with CAC

datola:
Can you lift the veil of incorporation and let us see those who are being th Golf-Riverbank Consortium who took over Keystone bank for a paltry N25 billion.

Okay good

czaratwork:
DEM DON DASH SOMEONE ANOTHER PERSON'S HARDWORK.

Just as they did to Intercontinental