Access Bank to acquire Zambian Cavmont Bank

Access Bank has announced that its subsidiary in Zambia is in advanced discussion with Cavmont Capital Holdings to acquire Cavmont Bank.

The bank in a letter to the Nigerian Stock Exchange on Wednesday noted that its subsidiary in Zambia is concluding plans to buy off 100 per cent of Zambian Cavmont Capital in Cavmont Bank.

“There can be no certainty that a will be agreed, nor as to the terms of any such agreement. The completion of a transaction would be subject to formal regulatory approvals. Access Bank will update the market as appropriate and in accordance with its disclosure obligations,” the released signed by the bank’s company secretary, Sunday Ekwochi, stated.

It advised investors exercise caution in dealing with Access Bank’s securities until full announcement is made.