The board of Access Bank Plc says its Zambian subsidiary is in exclusive discussions to acquire Cavmont Bank Limited, a wholly-owned subsidiary of Cavmont Capital Holdings Zambia Plc, founded 16 years ago on January 1, 2004.

Access Bank Plc in a filing to the Nigerian Stock Exchange (NSE), said the completion of the transaction is subject to formal regulatory approvals.  

The statement filed by Sunday Ekwochi, its company secretary, advised shareholders to deal cautiously with Access Bank Plc’s securities until further announcement, stressing that there is no certainty that the transaction relating to the sale of 100% of Cavmont Capital’s interest in Cavmont Bank to Access Bank Zambia will be agreed.