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Atlas Mara Limited, ABC Holdings Limited and Access Bank Plc sign share purchase agreement for the acquisition of BancABC


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Atlas Mara Limited, ABC Holdings Limited and Access Bank Plc sign share purchase agreement for the acquisition of BancABC
21st April 2021
Gaborone 19 April 2021 – Atlas Mara Limited (“Atlas Mara”), ABC Holdings Limited (“ABCH”) and Access Bank Plc (“Access Bank”) announced that they have entered into a definitive agreement regarding a proposed acquisition of 78.15% of the issued share capital of African Banking Corporation of Botswana Limited (“BancABC Botswana”) by Access Bank. The transaction is expected to conclude in the first half of 2021, subject to the fulfillment of various customary conditions precedent including certain regulatory requirements by the Bank of Botswana and consents from other relevant authorities and certain counterparties. ....

South Africa , South East , Republic Of Botswana , Atlas Mara , Herbert Wigwe , Kgotso Bannalotlhe , Michael Wilkerson , Access Bank Plc , Bancabc Botswana To Access Bank , Access Bank , Atlas Mara Limited , Holdings Limited , African Banking Corporation , Botswana Limited , Southern Africa , Executive Chairman , தெற்கு கிழக்கு , குடியரசு ஆஃப் போட்ஸ்வானா , அட்லஸ் மாரா , மைக்கேல் வில்கர்சன் , நுழைவு வங்கி ப்ல் , நுழைவு வங்கி , அட்லஸ் மாரா வரையறுக்கப்பட்டவை , ஹோல்டிங்ஸ் வரையறுக்கப்பட்டவை , போட்ஸ்வானா வரையறுக்கப்பட்டவை , நிர்வாகி தலைவர் ,

Investegate |Atlas Mara Limited Announcements | Atlas Mara Limited: Strategic Transaction with Access Bank Plc


 
Atlas Mara Limited ( Atlas Mara or the Company and including its subsidiaries, the Group ), the sub-Saharan African financial services group,
announces that its subsidiary, ABC Holdings Limited ( ABCH ), has entered into definitive agreements with Access Bank Plc ( Access Bank ) for the sale of ABCH s holdings in African Banking Corporation Botswana ( BancABC Botswana ) (the Transaction ).  The Transaction is subject to fulfillment of various customary conditions precedent including certain regulatory requirements and consents from other relevant authorities and certain counterparties. 
As part of the Transaction, Access Bank will acquire ABCH s 78.15% shareholding in BancABC Botswana for cash consideration representing approximately 1.13 times book value including a deferred portion payable 24 months after closing of the transaction, subject to certain conditions. The Transaction is expected to conclude in the second quarter of 2021 ....

City Of , United Kingdom , Atlas Mara , Kojo Dufu , Anthony Silverman , Michael Wilkerson , London Stock Exchange , Access Bank Plc , Access Bank , Atlas Mara Limited , Access Bank Plc For Bancabc Botswana , Holdings Limited , Mara Limited , Saharan African , African Banking Corporation Botswana , London Stock , Investegate Announcements , Investegate Company Announcements , Atlas Mara Limited , Egulatory News Service , Egulatory News Service And Regulatory , நகரம் ஆஃப் , ஒன்றுபட்டது கிஂக்டம் , அட்லஸ் மாரா , அந்தோணி சில்வர்மேன் , மைக்கேல் வில்கர்சன் ,