IFC and IFC Asset Management Company In Advanced Discussions To Sell Equity Holding In ETI

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Monday, June 17, 2019  /  04:48PM  /  NSE Press Release / Header Image Credit: feminem.org 


The International Finance Corporation (“IFC”, a member of the World Bank Group), and investment funds managed by the IFC Asset Management Company (“AMC” a wholly-owned subsidiary of IFC) have entered into a Share Purchase Agreement with a leading Dutch investment firm Arise B. V for the sale of their circa 14.1 per cent stake in ETI. Completion of the transaction is expected in the coming months, subject to due diligence, internal and regulatory approvals.

IFC and ETI have worked together since 1993 to broaden access to finance, enhance trade liquidity, and strengthen Ecobank. Since 2009, IFC and the funds managed by the IFC Asset Management Company, through their investments, have been supporting Ecobank’s growth strategy across Africa in building a preeminent banking franchise.

 

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Graph 1: Ecobank Transnational Incorporated – One Year Share Price Movement


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