Nigeria: Heritage Bank and Enterprise Bank - Acquisition That Defied Industry Standard

20 October 2014

On Wednesday 15th of October, financial journalists anxiously awaited a statement or announcement from the Asset Management Corporation of Nigeria (AMCON) concerning the sale of Enterprise Bank to HBCL Investment Services Limited (HISL).

The day marked the end of the deadline for the HISL, promoted by Heritage Bank Company Limited (HBCL), to pay the 80 percent balance of its N56 billion bid price for the acquisition of Enterprise Bank.

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