IFC Plans Sale Of 14.1% Ecobank Stake To African Focused Investment Firm

-

The International Finance Corporation (IFC) says it is in advanced discussions along with its IFC Asset Management with a leading Dutch investment firm Arise BV for the sale of their 14.1% equity stake in Ecobank Transnational Incorporated (ETI).
According to a statement by Madibinet CISSE, Ecobank’s Group General Counsel and Company Secretary to the Nigerian Stock Exchange (NSE), Arise BV is a leading equity investor in financial institutions in Sub-Saharan Africa with a combined asset value in excess of US$700m, with mandate to capitalize and stimulate growth across all financial services sub-sectors and within SSA.

A notice by ETI, the Lomé based parent company of the Ecobank Group, said the IFC, a member of the World Bank Group, and investment funds managed by the IFC Asset Management Company, entered into a Share Purchase Agreement with Arise B.V.
“Completion of the transaction is expected in the coming months, subject to due diligence, internal and regulatory approvals,” the statement added, noting that both IFC and ETI have worked together since 1993 to broaden access to finance, enhance trade liquidity, and strengthen Ecobank.

Since 2009, IFC and the funds managed by the IFC Asset Management Company, through their investments, have been supporting Ecobank’s growth strategy across Africa in building a preeminent banking franchise.

https://investdata.com.ng/2019/06/ifc-plans-sale-of-14-1-ecobank-stake-to-african-focused-investment-firm/

Comments

Post a Comment

Popular posts from this blog

Wherever You are NOW is Your Decision

-
Image
                                        Photo credit: entrepreneurfail According to research, very few people are successful at anything at first. I included. The reason only a tiny percentage of the population achieves any significant success or wealth through stock is that few are willing to go through the process of what it takes to achieve in the stock market, and there is no shortcut. In fact, everybody has to go through four levels of learning every single time, and often, in the process - fail, regroup and begin again. Most people blame others like government policies, currency fluctuation, political instability, the election for stopping their progress, but in truth, there's only one person who can put on the parking break and that person is YOU. Furthermore, many people drive around with the break on without knowing it, or once awareness arrives, don't know how to lift their foot off of it. That is why I have been organizing seminars and making them avail
Read more