Montepio Holding SGPS S.A has completed the sale of its stake in Finibanco Angola S.A to Access Bank, the subsidiary of Access Holdings.

Access Bank acquired 51 per cent, which is a majority stake in Finibanco Angola, giving the Nigerian lender access to influence key business decisions of the Angolan firm.

Access Holdings announced the completion of the deal on Thursday in a statement sent to the stock market authority, Nigerian Exchange Limited (NGX), and shareholders.

Both companies have received approval from their respective regulators, Banco Nacional de Angola, the Central Bank of Nigeria (CBN) and the Angolan Competition Authority.

“Further to our announcement on May 2, 2023 on the above subject, Access Holdings Plc (‘Access Holdings’) is pleased to announce the completion of acquisition of majority equity stake in Finibanco Angola S.A, by its flagship subsidiary, Access Bank Plc (‘the Bank’),” the
statement reads.

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https://www.primebusiness.africa/montepio-holding-finally-sells-majority-stake-in-finibanco-to-access-bank/