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Nairaland Forum / Nairaland / General / Business / AMCON Hands Over Keystone Bank To New Investors (10230 Views)
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AMCON Hands Over Keystone Bank To New Investors by Trending01: 4:35am On Mar 27, 2017 |
Following the sale of Keystone Bank to Sigma Golf-Riverbank Consortium by the Asset Management Corporation of Nigeria (AMCON), the new investors have finally taken possession with a view to repositioning the bank immediately. A statement from the bank said the handover took place last Friday after the Completion Board Meeting to consummate the acquisition and pave way for the takeover was held the previous day (Thursday) with representatives of Sigma Golf-Riverbank Consortium (the Buyer), AMCON (the Seller), Board and Management of Keystone Bank as well as the advisers to the buyer (KPMG Professional Services, Boston Advisory Services, Giwa Osagie & Co., Pan-African Capital Limited) and the Seller (FBN Capital Limited, Citibank Nigeria Limited, Banwo & Ighodalo, CrosswrockLaw). Recall that AMCON had announced on Tuesday 21stMarch 2017 that Sigma Golf-Riverbank Consortium had acquired Keystone Bank Limited. The Completion Meeting signified the effective hand-over of the bank to the buyer and the commencement of a transition process that will culminate in the reconstitution of the Board and Management of the bank to reflect the new ownership. Keystone Bank, formerly Bank PHB, was taken over by AMCON in 2011 and has been managed by the AMCON-appointed board and management which stabilised the bank over the years to make it attractive as potential new investors, who emerged as preferred bidders after a very transparent and competitive bidding process. Analysts believe that the emergence of the Sigma Golf-Riverbank Consortium will bring a new lease of life to Keystone Bank with the expected injection of fresh capital that would position the bank to play competitively in the industry and actualize its full potentials. “In moving the bank forward as a major player in the industry, the new investors will be backed up by a pool of reputable professionals both currently within the bank and across the industry. “Keystone Bank, therefore, assures all its stakeholders that the transition process will reposition the bank to serve its customers better, creating enhanced value for all stakeholders”, the statement added. READ MORE: http://theicon.ng/2017/03/27/amcon-hands-keystone-bank-new-investors/ 1 Share
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Re: AMCON Hands Over Keystone Bank To New Investors by jom28gy(m): 4:42am On Mar 27, 2017 |
How many times will this bank be re-sold? 1 Like 2 Shares |
Re: AMCON Hands Over Keystone Bank To New Investors by Funjosh(m): 6:23am On Mar 27, 2017 |
Remaining Heritage Bank ![]() 3 Likes |
Re: AMCON Hands Over Keystone Bank To New Investors by Funjosh(m): 6:24am On Mar 27, 2017 |
jom28gy: They will keep on reselling until their is nothing to sell again ![]() 10 Likes |
Re: AMCON Hands Over Keystone Bank To New Investors by oluseyiforjesus(m): 7:35am On Mar 27, 2017 |
Golf ke? They will use our money to play golf be dat ooo |
Re: AMCON Hands Over Keystone Bank To New Investors by Einl(m): 7:36am On Mar 27, 2017 |
AMCOM will not do a Fit and Proper Person test on the members of the board of the buyers. Sell it to themselves. 25 billion for a commercial bank?? Whoever the buyers are deserve an award for the Deal of the Century. This will even eclipse Access Bank buying Intercontinental Bank. |
Re: AMCON Hands Over Keystone Bank To New Investors by Nobody: 7:37am On Mar 27, 2017 |
Dem go change the name |
Re: AMCON Hands Over Keystone Bank To New Investors by datola: 7:38am On Mar 27, 2017 |
Can you lift the veil of incorporation and let us see those who are behind th Golf-Riverbank Consortium who took over Keystone bank for a paltry N25 billion. 2 Likes |
Re: AMCON Hands Over Keystone Bank To New Investors by AngelicBeing: 7:38am On Mar 27, 2017 |
Funjosh:Alternatively they will sell themselves ![]() 2 Likes |
Re: AMCON Hands Over Keystone Bank To New Investors by whela(m): 7:38am On Mar 27, 2017 |
OK then what!!!! |
Re: AMCON Hands Over Keystone Bank To New Investors by ERockson: 7:40am On Mar 27, 2017 |
They should do the same to Skye Bank asap 1 Like |
Re: AMCON Hands Over Keystone Bank To New Investors by godswillzeky(m): 7:41am On Mar 27, 2017 |
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Re: AMCON Hands Over Keystone Bank To New Investors by Ola2004: 7:41am On Mar 27, 2017 |
Meanwhile, https://www.youtube.com/watch?v=U6e9yl-CKDE Stephany otobo's mother came to Omega fire ministry to beg apostle suleman on behalf of her daughter. She practically went down on her knees to beg the pastor to forgive her daughter. |
Re: AMCON Hands Over Keystone Bank To New Investors by pato1(m): 7:44am On Mar 27, 2017 |
Hope my money is safe ooo... No matter how little it might be... It's my money |
Re: AMCON Hands Over Keystone Bank To New Investors by DIKEnaWAR: 7:44am On Mar 27, 2017 |
Again?!! |
Re: AMCON Hands Over Keystone Bank To New Investors by Tobwins: 7:48am On Mar 27, 2017 |
Hope my # is safe! ![]() |
Re: AMCON Hands Over Keystone Bank To New Investors by sakalisis(m): 7:49am On Mar 27, 2017 |
Heya |
Re: AMCON Hands Over Keystone Bank To New Investors by Pasidon(m): 8:01am On Mar 27, 2017 |
And I have a frozen account with that bank.... Just hope. My cash is safe |
Re: AMCON Hands Over Keystone Bank To New Investors by Adeoba10(m): 8:13am On Mar 27, 2017 |
jom28gy:I never buy am... Still saving up the money |
Re: AMCON Hands Over Keystone Bank To New Investors by geostrata(m): 8:19am On Mar 27, 2017 |
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Re: AMCON Hands Over Keystone Bank To New Investors by maskamdo(m): 8:25am On Mar 27, 2017 |
25billion. . That means the banks liabilities is 4/5 times that amount |
Re: AMCON Hands Over Keystone Bank To New Investors by dfrost: 8:34am On Mar 27, 2017 |
Hmmm... I hope it doesn't affect the staff working there ![]() ![]() |
Re: AMCON Hands Over Keystone Bank To New Investors by DollarAngel(m): 8:41am On Mar 27, 2017 |
Don't be surprised they sold it to one of this exgovenor or ex minister, Nigeria is finished |
Re: AMCON Hands Over Keystone Bank To New Investors by speezyWears: 9:00am On Mar 27, 2017 |
datola: Nice one efiwe, Your CAMA game is strong 1 Like |
Re: AMCON Hands Over Keystone Bank To New Investors by czaratwork: 10:25am On Mar 27, 2017 |
DEM DON DASH SOMEONE ANOTHER PERSON'S HARDWORK. |
Re: AMCON Hands Over Keystone Bank To New Investors by czaratwork: 10:26am On Mar 27, 2017 |
Do a corporate search with CAC datola: |
Re: AMCON Hands Over Keystone Bank To New Investors by opalu: 10:30am On Mar 27, 2017 |
Okay good |
Re: AMCON Hands Over Keystone Bank To New Investors by Jobabori(m): 10:55am On Mar 27, 2017 |
czaratwork:Just as they did to Intercontinental |
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