Access Bank Plc has said its subsidiary in Zambia, Access Bank Zambia Limited has announced plans that it entered into exclusive discussion with Cavmont Capital Holdings Zambia Plc.
The Company Secretary, Access Bank Plc, Mr Sunday Ekwochi in a statement said, “Access Bank Plc announces today that its wholly-owned subsidiary in Zambia, Access Bank Zambia Limited (Access Bank Zambia) has entered into exclusive discussions with Cavmont Capital Holdings Zambia Plc (Cavmont Capital) regarding a potential transaction between Access Bank Zambia and Cavmont Bank Limited (Cavmont Bank), a wholly-owned subsidiary of Cavmont Capital.
“The potential transaction relates to the sale of 100 per cent of Cavmont Capital’s interest in Cavmont Bank to Access Bank Zambia.
“There can be no certainty that a transaction will be agreed, nor as to the terms of any such agreement. The completion of a transaction would be subject to formal regulatory approvals.
“Access Bank will update the market as appropriate and in accordance with its’ disclosure obligations.
“Accordingly, shareholders are advised to exercise caution when dealing in Access Banks securities until a full announcement is made.”