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.
It could be recalled that Heritage Bank was last week announced as the preferred bidder for the bank which is wholly owned by AMCON.
