Access Bank Plc Issues N3.2bn for the Acquisition of NNMC

Access Bank Plc’s investment banking expertise was recently demonstrated in it’s facilitation of Negris Holding Ltd’s acquisition of the Nigerian Newsprint Manufacturing company (NNMC).

The target company previously owned by the Federal Government of Nigeria and the governments of Akwa Ibom and Cross River States was acquired through a highly competitive bid process which culminated in a N3.2 billion successful bid price.

Access Bank provided Negris Holding Limited with both the requisite and 100% funding for the acquisition, as well as a full suite of financial advisory services.

It would be noted that in the last 2 years, Access Bank has participated in a number of successful deals that have positively impacted the nation’s capital market and financial services industry (and by extension the nation’s economy).

Such deals include joint Issuing House, underwriting and receiving bank mandates for the following public issues; the Dangote Sugar refinery Plc initial public offer in 2006, the Dangote Flour Mills initial public offer in 2007, the Zenith Bank Plc N130 billion public offer in the year 2007, Diamond Bank Plc US$400 million Global Depository Receipt in 2007 and acting as a receiving bank to the recently concluded Custodian Allied & Insurance initial public offer and right issue in 2008.

Bookmark It

 Email This Post