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|With Diamond Bank Acquisition, Access To Emerge Nigeria’s Largest Bank By Asset by TheMainone: 5:45pm On Dec 18, 2018|
With the recent Access/Diamond merger and acquisition, the combined entity will have the largest number of retail customers in Africa. The 2 Nigerian banks experienced significant changes in their capital shares following a recent deal which saw Acces acquiring a portion of Diamond bank in cash and asset. The deal was announced last week with the Lagos based Citigroup Inc. and Chapel Hill Denham investment banks advising Access, while Exotix Capital advised Diamond.
Access’s offer is a 260 percent premium to Diamond’s closing price of 0.87 naira a share on Dec. 13. Its stock has risen 20 percent this week to 1.14 naira in Lagos, still far below the offer price, but paring its losses this year to 24 percent.
If the monetary authorities (CBN) successfully approve the deal, then Access is sure to emerge Nigeria’s largest bank by asset.
|Re: With Diamond Bank Acquisition, Access To Emerge Nigeria’s Largest Bank By Asset by TheMainone: 5:46pm On Dec 18, 2018|
Current standing of Nigeria's largest banks
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|Re: With Diamond Bank Acquisition, Access To Emerge Nigeria’s Largest Bank By Asset by ozo13(m): 6:07pm On Dec 18, 2018|
Jus 4mnths ago I was doing Shakara for access bank o
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