Two Nigerian tier-1 Banks – Access Bank Plc and Zenith Bank Plc – are among financial institutions that have indicated an interest in the acquisition of Union Bank Plc from Atlas Mara Limited.
Atlas Mara is the single majority shareholder of the Nigerian old generation bank. It owns 49.97 per cent of Union bank shares.
According to Bloomberg which disclosed the quoted sources familiar with the matter to have disclosed that Atlas Mara Limited, the London Stock Exchange-listed pan-African banking group started by Mr. Bob Diamond has received a number of approaches for its 49.97 per cent holding in Nigeria-based Union Bank.
Access Bank Plc and Zenith Bank Plc are among the suitors that have expressed interest alongside other African rivals such as Morocco’s Attijariwafa Bank, the sources said.
THISDAY also claimed to have confirmed the development from sources in Zenith and Access.