Access Holding has entered an agreement with the Kenyan-based KCB Group Plc for the acquisition of the entire issued share capital of National Bank of Kenya (NBK).
The move is part of the vision of the late co-founder and former Group Chief Executive Officer, Herbert Wigwe.
The deal is currently awaiting regulatory approvals from the Central Bank of Kenya, the Central Bank of Nigeria, the COMESA Competition Commission, and notifications to other relevant regulators.
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According to a statement filed on the Nigerian Exchange Limited (NGX), on Wednesday, Access Holdings’ secretary, Sunday Ekwochi, said the completion of the deal is subject to regulatory approvals from central banks in Kenya and Nigeria.
The value of the acquisition was, however, not disclosed by the lender.
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