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By Amechi Ogbonna

The Asset Management Corporation of Nigeria (AMCON) has appear the auction of Keystone Bank, one of Nigeria’s bartering banks it acquired in 2011 afterward their solvency challenges.

AMCON spokesman, Jude Nwauzor, who accepted this to Daily Sun yesterday, said the coffer was awash to Sigma Golf Nigeria Limited and Riverbank Investment Resources Limited.

The bank, aforetime accepted as Coffer PHB, is the aftermost of three nationalised banks to be sold, afterwards the added two actuality Mainstreet Coffer and Enterprise Coffer were awash to added banks.

In a account active by Nwauzor, AMCON’s Head of Corporate Communications, the bad coffer said it “is admiring to advertise Sigma Golf Nigeria Limited and Riverbank Investment Resources Limited (the Sigma Golf – Riverbank consortium) as the new investors in affiliation to  the accretion of the absolute issued and absolutely paid up accustomed shares of Keystone Coffer Limited.

“This follows the cancellation of the all-important authoritative approvals from the Central Coffer of Nigeria (CBN) and the Securities and Exchange Commission (SEC).

“The achievement of the transaction is accountable to the accomplishment of the altitude antecedent as declared in the Share Auction and Purchase  Agreement (SPA) accomplished amid AMCON and the Sigma Golf – Riverbank consortium.”

AMCON said The Sigma Golf – Riverbank bunch is fabricated up of Sigma Golf Nigeria Limited and Riverbank Investment Resources, both of which are entities set up by bounded investors.

The auction of the coffer has been on the cards back 2016, through a action started with absorption apparent by added than 12 parties acid beyond bounded and all-embracing investors.

AMCON said the actualization of the Sigma Golf – Riverbank bunch resulted from a accurate and aggressive behest process, which was accommodating for AMCON by Citibank Nigeria Limited and its affiliates and FBN Capital (Joint Financial Advisers), and Banwo & Ighodalo and Crosswrock Law (Joint Legal Advisers).

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