Heritage Bank To Make Initial Payment For Enterprise Bank By Tuesday

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Heritage bank, led by Ifie Sekibo have made breakthrough in the acquisition of Enterprise Bank. In compliance with the terms for its acquisition of Enterprise Bank Limited, Heritage Bank Limited on Friday signed the Share Purchase Agreement with Asset Management Corporation of Nigeria (AMCON) for the purpose of acquisition of Enterprise bank.

The significant of the signing of SPA which was done yesterday at AMCON’s head office in Lagos, means that within 48 hours,  Heritage bank will pay the initial 20% of the N56b bid sum on or before Tuesday,  next week, while the balance of 80 per cent or N44.8 billion would be paid by October 13.

This is clearly a major boost for the corporate image of Heritage Bank as the acquisition of  Enterprise Bank will position them as one of the leading institutions in the banking sector.