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