Omo, Naija na wah o! Dem status wey we dey hear, e be like say Access Bank don japa from di planned acquisition of Bidvest Bank. Wetin happen be say, both sides no fit meet up di necessary conditions wey dem set before dem fit seal di deal.
For statement wey dem drop on February 9, Bidvest talk say dem don officially terminate di agreement. E carry dem matter go another level, dey check other potential buyers wey fit pick dem banking subsidiary. Dem confirm say Bidvest Bank dey strong and still dey operate well, no wahala for di bank.
Dem don plan this acquisition since December 2024, and dem valued am like 2.8 billion rands (174 million USD). Di gist wey dey float be say na dis acquisition go make Access Bank strong for South African market, but e no go work out as planned.
Access Bank, wey sabi dey waka small for South Africa, come talk say dem try everything to get all di necessary approvals, but time don pass and no be all di conditions meet. Di deal suppose finish by January 26, but e just fade away like mirage.
Di wahala no be say dem no ready to chop but e show di complexity wey dey involved for multi-jurisdictional regulations. Dem go need do more to fit move di deal forward, no be small matter.
Di Managing Director of Access Bank, e still dey confident say di South African market dey strong, despite di gbas gbos wey don happen. Him talk say dem still dey plan how dem go fit make dis transaction work one day.
As dis wahala dey go on, na so Bidvest still dey carry dey life insurance matter of Bidvest Life, dey look for buyer wey go take am. Dem confirm say dis one dey on track, subject to approvals wey go fit follow.
Na so business dey run for town, one minute e dey shine, next minute e don collect wetin e no bargain for. Naija people, make we dey watch as e go be because jand is real! Na so e be.
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