The final step in the acquisition of Enterprise bank was the purchase of
the company’s fully-paid-up ordinary shares valued at about N56.1
billion by Heritage Bank.
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Heritage Bank has received approval to acquire Enterprise Bank (HBNG)
The Board of Directors of the Asset Management Corporation of Nigeria (AMCON) has granted its permission for the acquisition of Enterprise Bank by Heritage Bank.
AMCON
stated that the final step in the acquisition of Enterprise bank was
the purchase of the company’s fully-paid-up ordinary shares valued at
about N56.1 billion by Heritage Bank.
The
sale was conducted via a bidding process and HBCL Investment Services
Limited, a subsidiary of Heritage Bank, emerged as the preferred bidder.
The
transaction has received final approval from AMCON asides from other
necessary approvals by the relevant regulatory authorities, including
the Central Bank of Nigeria (CBN) and the Securities and Exchange
Commission (SEC). |
