On Wednesday 8th June 2022, Centum Investment Company Plc announced that it has entered into a binding agreement with Access Bank Plc regarding a proposed purchase by Access Bank of Centum’s entire equity stake in Sidian Bank Limited. Access Bank is a wholly owned subsidiary of Nigeria’s largest lender, Access Holdings Plc. Currently, Centum holds 83.41% of the issued shares of Sidian, directly in its own name ( 2.25% ownership of 98,99 shares) and indirectly through its wholly owned subsidiary, Bakki Holdco Limited (81.16% ownership of 3,564,388 shares). The transaction value is estimated at a total sum of KES 4.30Bn, where we expect might vary as the deal moves to later stages.
