Business Milost Ends $1 Billion Deal With Unity Bank After Receiving Threats From 'A Cabal'- Bloomberg News

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Milost Global Inc. ended talks to provide $1 billion to Nigeria’s Unity Bank Plc, saying it received threats that it will be run out of the country if the deal continues.

The New York-based private-equity firm had agreed to provide debt and equity on the understanding that Unity would delist in Nigeria to have its stock traded in the U.S., Milost said in an emailed statement on Monday. The term sheet was signed and approved by the board of Unity, which needed the capital to strengthen its balance sheet and to expand, the firm said. It would ultimately have acquired 60 percent in the Lagos-based bank.

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