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With the completion and signing of share purchase
agreements (SPAs) with the Assets Management
Corporation of Nigeria (AMCON), Skye Bank Plc is stepping
up to the level of 1st tier banks.
AMCON, in a statement signed by its Head, Corporate
Communications Strategy and Research, Mr. Kayode
Lambo, last week announced that Skye Bank is the
preferred bidder for the acquisition of the entire issued and
fully paid-up ordinary shares of Mainstreet Bank.
Within four days of AMCON's announcement of Skye Bank
as the preferred bidder for Mainstreet Bank, Skye Bank paid
the mandatory 20% deposit of the bid price, which was the
same day it signed the SPA and well ahead of the deadline,
which was October 9, 2014. Skye Bank again, on Oct. 31,
paid the 80% balance to complete the take-over of
Mainstreet Bank ahead of the transaction deadline
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