The Asset Management Corporation of Nigeria (AMCON) has hired Barclays Africa Group and Afrinvest as financial advisers for the planned spin-off of its financial firm Mainstreet Bank.

The asset manager holds 100% of the share capital in Mainstreet Bank and its nine subsidiaries, besides a distribution channel comprising 201 branches, nine cash centers and 200 Automated Teller Machines as on 31 December 2013.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

AMCON has invited Expression of Interest (EOI) from the interested buyers by 16 May 2014.

Following the evaluation of EOIs, the group is expected to shortlist buyers, with whom, it would continue the process of divestment.

AMCON has also appointed Banwo and Ighodalo as legal advisers for the process.

In addition, the company is also keen to divest its other wholly-owned bank Enterprise Bank, and has already commenced the process.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.