Access Bank Plc in a statement signed by its Company Secretary, Mr. Sunday Ekwochi on Wednesday 8 July, announced that its wholly owned subsidiary in Zambia, Access Bank Zambia Limited is in advanced discussions with Cavmont Capital Holdings Zambia Plc regarding a potential transaction between Access Bank Zambia and Cavmont Bank Limited, a wholly owned subsidiary of Cavmont Capital.
The Potential transaction is for the sale of 100% of Cavmont Capital’s interest in Cavmont Bank to Access Bank Zambia.
According to the statement, the completion of a transaction would be subject to formal regulatory approval.
Access Bank however said that, “there can be no certainty that a transaction will be agreed, nor as to the terms of any such agreement.”
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The bank advised its shareholders to exercise caution when dealing in the Access Bank’s securities until a full announcement is made.