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).
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.
The statement added;“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”.