Lagos - Barclays Africa Group Limited and Afrinvest have been appointed by the Asset Management Corporation of Nigeria (AMCON) as financial advisers for the divestment of its shareholding in Mainstreet Bank Limited, reports ThisDay.
Banwo and Ighodalo was appointed as legal advisers on the divestment. AMCON currently owns 100 per cent of Mainstreet Bank including all its nine subsidiaries.
Mainstreet Bank, formerly Afribank Plc is one of the three banks turned over to AMCON by the Central Bank of Nigeria and the Nigeria Deposit Insurance Corporation, after their shareholders fund was eroded by huge non-performing loans and lack of corporate governance.
The advisers are expected to solicit expressions of interest from prospective investors.
Read more at ThisDay.
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