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Official: SEC Approves Skye Bank’s Acquisition of Mainstreet Bank

Nairametrics by Nairametrics
December 15, 2014
in Uncategorized
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  • Greenwich Trust Limited, acting on behalf of Skye Bank Plc, has notified The Nigerian Stock Exchange that further to its letter to The Exchange in which it formally notified The Exchange of the intention of Skye Bank Plc to acquire stake in Mainstreet Bank Limited from the Asset Management Corporation of Nigeria (AMCON), Skye Bank Limited has received a “No Objection” letter from the Securities and Exchange Commission (SEC).
  • In view of the above, Skye Bank Plc and its advisers intend to commence the completion phase of the acquisition exercise and will duly notify The Exchange upon fulfilment of all Conditions Precedent to the transaction.
  • SEC approval is required to complete any deal in Nigeria
  • With this approval Skye Bank can now go ahead to complete the transaction
  • Skye Bank shares was down 1.29% to close at N2.3 at close of trading today
  • Press Release
Tags: Skye Bank
Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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