[M&A] Heritage Bank Emerges Preferred Bidder for Enterprise Bank

Heritage Bank Limited has emerged the preferred bidder for Enterprise Bank Limited.

Result of the bidding announced yesterday by the Asset Management Company ( AMCON) showed Fidelity Bank emerged as the reserved bidder.

A statement issued by AMCON said, "The Asset Management Corporation of Nigeria ("AMCON" or the "Corporation") is pleased to announce HBCL Investment Services Limited ("HISL") as preferred bidder and Fidelity Bank PLC ("Fidelity Bank") as reserved bidder for the acquisition of the entire issued and fully paid up ordinary shares of Enterprise Bank Limited ("Enterprise Bank") (the "Transaction"). This follows the receipt of the approval of the Board of Directors of AMCON. HISL is sponsored by Heritage Banking Company Limited.

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