New investors on Friday took over Keystone Bank Limited, according to Punch news.
The acquisition announced by Asset Management Corporation of Nigeria was made by Sigma Golf-Riverbank Consortium.
The report says that Sigma Golf-Riverbank Consortium comprises Sigma Golf Nigeria Limited and Riverbank Investment Resources, both of which are entities set up by local investors. The report also disclose that one of the financiers of the company is said to be the former Managing Director/Chief Executive officer of Sigma Pensions Limited, Mr Umar Modibbo.
Punch also reports that the completion meeting, according to a statement by the lender, was held on Thursday with representatives of the Sigma Golf-Riverbank Consortium, AMCON, Board and management of Keystone Bank, as well as the advisers to the buyer made up of KPMG Professional Services, Boston Advisory Services, Giwa Osagie & Co., and Pan-African Capital Limited; and the seller, comprising FBN Capital Limited, Citibank Nigeria Limited, Banwo & Ighodalo and Crosswrock Law.
The completion meeting, according to the statement, signifies the effective handover 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 lender to reflect the new ownership.
0 comments:
Post a Comment