REG - Ecobank Transnat'l - Transaction in Own Shares

Arion banki hfAnnouncement

18/06/2019 11:30

RNS Number : 6139C
Ecobank Transnational Incorporated
18 June 2019
 





PRESS RELEASE







 
The International Finance Corporation and the IFC Asset Management Company in advanced discussions to sell equity holding in Ecobank Transnational Incorporated.
 
Lomé, 17 June 2019 - Ecobank Transnational Incorporated, ("ETI"), the Lomé-based parent company of the Ecobank Group, announces a material information relating to its ownership structure.
 
The International Finance Corporation ("IFC", a member of the World Bank Group), and investment funds managed by the IFC Asset Management Company ("AMC" a wholly-owned subsidiary of IFC) have entered into a Share Purchase Agreement with a leading Dutch investment firm Arise B. V for the sale of their circa 14.1 per cent stake in ETI. Completion of the transaction is expected in the coming months, subject to due diligence, internal and regulatory approvals.
 
IFC and ETI have worked together since 1993 to broaden access to finance, enhance trade liquidity, and strengthen Ecobank. Since 2009, IFC and the funds managed by the IFC Asset Management Company, through their investments, have been supporting Ecobank's growth strategy across Africa in building a preeminent banking franchise.
 
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Signed
 
 
 
 
Madibinet CISSE
Group General Counsel and Company Secretary
 
 
Media Contact:
Mireille Bokpe-Anoumou
Group Communications Email: mbokpe@ecobank.com
Tel: +228 22 21 03 03  
 
About Arise
Arise BV is a leading equity investor in financial institutions in Sub-Saharan Africa with a combined asset value in excess of USD 700 million. Its mandate is to capitalize and stimulate growth across all financial services sub-sectors and within SSA. Through partnering with financially sustainable Financial Service providers and helping them to become industry leaders in their respective markets, Arise BV aims to contribute to the economic growth potential of Africa, whilst at the same time achieving long-term investment returns. Arise is owned by FMO, Norfund, and Rabobank. For more information, visit www.ariseinvest.com.
 
About IFC
IFC - a sister organization of the World Bank and member of the World Bank Group - is the largest global development institution focused on the private sector in emerging markets. IFC works with more than 2,000 businesses worldwide, using its capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In fiscal year 2018, it delivered more than USD 23 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. IFC expects to deliver more than $4 billion in long-term financing in fiscal year 2019 for the Sub-Saharan Africa private sector. For more information, visit www.ifc.org.
 
About IFC Asset Management Company
IFC Asset Management Company, LLC, a wholly owned subsidiary of IFC, mobilizes and manages capital to invest in businesses in developing and frontier markets. Created in 2009, AMC provides leading institutional investors with unique access to IFC's emerging markets investment pipeline and investment expertise, while providing positive development impact in the countries in which it invests. AMC funds' investors include sovereign wealth funds, pension funds, and development-finance institutions. It has raised approximately USD 10 billion across 13 investment funds covering equity, debt, and fund-of-fund products. For more information, visit www.ifcamc.org.
 
About Ecobank 
Incorporated in Lomé, Togo in 1985, Ecobank Transnational Incorporated ('ETI') is the parent company of the leading independent pan-African banking group, Ecobank. It currently has a presence in 36 African countries, namely: Angola, Benin, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Congo (Brazzaville), Congo (Democratic Republic), Côte d'Ivoire, Equatorial Guinea, Ethiopia, Gabon, Gambia, Ghana, Guinea, Guinea Bissau, Kenya, Liberia, Malawi, Mali, Mozambique, Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, South Africa, South Sudan, Tanzania, Togo, Uganda, Zambia and Zimbabwe. The Group employs about 16,000 people in 40 different countries in over 850 branches and offices. Ecobank is a full-service bank providing wholesale, retail, investment, and transaction banking services and products to governments, financial institutions, multinationals, international organizations, medium, small and micro businesses, and individuals. Additional information on Ecobank can be found at ecobank.com.




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