Centum Investment (Kenya) sells its entire Kes 4.3 billion stake in Sidian Bank to Access Bank PLC

By Published On: June 9th, 2022Categories: Corporate announcement

Centum Investment Company PLC [“Centum”] is pleased to announce that it has entered into an agreement to sell all of its shareholding in Sidian Bank Limited (“Sidian”) to Access Bank PLC. Centum holds 83.4% of the issued shares of Sidian, in its own name and also through its wholly owned subsidiary, Bakki Holdeo Limited. The transaction is for the total sum of Kes. 4.3 billion, subject to any customary adjustments at the time of completion of the transaction.

Access Bank PLC. is a leading full-service commercial Bank operating through a network of more than 600 branches and service outlets, ‘spanning three continents, 12 countries and 31 million customers. The Bank employs 28,000 people in its operations in Nigeria and has Subsidiaries in Sub-Saharan Africa and the United Kingdom [with branch in Dubai, UAE] and representative offices in China, Lebanon and India. Access Bank PLC is listed on the Nigerian Stock Exchange, since 1998, and has over 900,000 shareholders,

The completion of the acquisition by Access Bank PLC of the majority stake in Sidian is subject to various conditions, inter alia, regulatory ‘approvals from the Central Bank of Kenya and from the Competition Authority of Kenya.

The shareholders of Centum and the investing public are hereby notified to exercise caution when dealing in the shares of Centum while the sale transaction is ongoing.


8 JUNE 2022

Centum Investment Limited (CTUM.ke)

Share price: 9.54 Shillings (-0.44 | -4.41% – 15/08/22)

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