Audio By Carbonatix
ICB Financial Group Holdings AG has sold its holdings in International Commercial Bank, Ghana Limited (ICB) to First Bank of Nigeria (FBN).
A statement released by Ghana's central bank said the transaction has been approved by the Bank of Ghana.
"By the terms of the approval, FBN is required to offload at least forty percent (40%) of the shares to Ghanaians through private placement and/or the Ghana Stock Exchange, of which at least twenty-five percent (25%) should be offloaded by 31st December, 2014 and the remainder not later than 31st December, 2016."
It may be noted that FBN has also acquired the subsidiaries of ICB Financial Group Holdings AG in The Gambia, Guinea, Senegal and Sierra-Leone.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Is talk of “losses” by GoldBod just abstract drivel? Bright Simons asks
54 minutes -
US Strikes: Ondo Amotekun arrests 39 fleeing suspected terrorists
1 hour -
New Passport Office opens in Techiman, bringing vital services closer to Bono East residents
2 hours -
Anthony Hopkins shares advice as he celebrates 50 years of sobriety
2 hours -
KTU Radio wins international award for its unique programme on World College Radio Day
2 hours -
German court jails man for drugging, raping and filming wife for years
2 hours -
Ashanti police intercept 2,600 AK-47 rounds and tactical gear at Asankare Barrier
2 hours -
Alhaji Agongo builds lifeline facility for Ghana Police Hospital’s ‘Unknown Patients’
2 hours -
Removal of Chief Justice Torkonoo had economic implications – Samson Lardy Anyenini
2 hours -
Ronaldo will not retire until he scores 1,000 goals
2 hours -
Amerado shuts down Okese Park with third edition of My Motherland Concert in Ejisu
2 hours -
Mahama visits Kufuor at Peduase to extend Christmas and New Year wishes
3 hours -
Man City close to agreeing terms Bournemouth to sign Semenyo
3 hours -
Time is right to change Man Utd formation – Amorim
3 hours -
Akufo-Addo’s record not entirely negative despite economic challenges – Anyenini
3 hours