Monday, November 12, 2018 06:32PM / By Proshare Research/ NSE
Reference: Why Diamond Bank Opted For A CBN-Managed Acquisition By Access Bank Over The Carlyle Group
Access Bank Plc and Diamond Bank Plc have
this evening, both denied the media reports (not Proshare) earlier
released today on purported talks on acquisition.
The leeway provided them was offered by the news
release published and given a wide circulation (not including this medium).
We can discountenance the media release after the
denials below but we cannot discountenance that Diamond Bank Pc is in a serious
The bank asked The Carlyle Group for more funds
before now, but Carlyle said NO and did in fact asked for their shares/position
in Diamond Bank to be liquidated, apart from other demands and exercise of
control over collaterals; which precipitated the reaction of the banks
management to hit a panic button.
Access Bank Plc is aware of this information and
others and knows its limits/limitations as regards the deal. The CBN equally
does and so do the SEC/NSE on this development.
We will await further pronouncements.
The notification published below
by the firms in a synchronised manner reflects a response to this:
Find below the releases issued by the
aforementioned entities via NSE:
Purported Talks For Access Bank Plc To Acquire Diamond Bank Plc
The attention of Diamond Bank Plc (“the Bank”) has
been drawn to the rumour in the media stating that the Bank is purportedly in
discussions with Access Bank Plc to acquire the Bank.
We wish to state categorically that the Bank is not
in discussions with any financial institution at the moment on any form of
merger or acquisition. We trust that the above clarifies the position of the
Bank with regards to the rumour on the various media platforms.
Recent Rumour On Business Combination With Diamond Bank Plc
Our attention has been drawn to newspaper report on
Access Bank Plc (“the bank”) being engaged in merger and acquisition talks with
Diamond Bank Plc.
We wish to notify the Nigerian Stock exchange and
the general public that the bank has not entered into any such discussions with
Diamond Bank or any other institution.
As a publicly quoted company built on best
practice, the bank is fully cognisant of its disclosure obligations in respect
of any such corporate action and will always discharge its obligations in the
most preferred manner.
Consequently, any statement regarding any such
corporate action that is not issued by the bank should be disregarded.
· Visit Diamond Bank Plc IR Page on Proshare MARKETS
· Visit Access Bank Plc IR Page on Proshare MARKETS
Contact Proshare via firstname.lastname@example.org
News Platforms That Carried Development Nov 12, 2018
1. Talks on for Access Bank to acquire Diamond Bank - The Nation – Nov 12, 2018
2. Diamond Bank received no cash offer from investor, says board - Daily Trust – Nov 12, 2018
Related News on Access Bank Plc
Why Diamond Bank Opted For A CBN-Managed Acquisition By
Access Bank Over The Carlyle Group
Access Bank Plc 2018- 2022
Strategy – Presentation
Strategy: Access Bank targets 30ml customers
Access Bank Launches New
Five-Year Strategy – to Become Africa’s Gateway to the World
Access Bank Plc IR Page on
ACCESS declares N62.91bn PAT in
Q3 2018 Results,(SP:N8.0k)
ACCESS Declares N39.63bn PAT in
Q2 2018 Results;Propose 25k Interim Dividend,(SP:N9.50k)
ACCESS Declares N22.12bn PAT in
Q1 2018 Results,(SP:N11.35k)
ACCESS declares N61.99 bn PAT
in Q4 2017 Results, Proposes N0.40k Dividend Per share(SP:N11.75k)
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10. Why Diamond Bank Opted For A CBN-Managed Acquisition By Access Bank Over The Carlyle Group
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