Kenya’s Centum calls off sale of Sidian Bank majority stake to Nigeria’s Access Bank
KENYA'S Centum Investment Co. Plc said it had ended a pact with Nigeria's Access Bank to sell its 83.4% shareholding in Kenya's Sidian Bank, as the timeframe for completion of the transaction had lapsed. In June, Centum announced plans to sell the stake to Access Bank, a subsidiary of Access Holdings, subject to regulatory approval in Kenya and Nigeria. Centum said in a statement late on Thursday that the planned sale was to be guided by conditions set out in the share purchase (SPA) agreement that was meant to be met by a certain date, known as the 'Long Stop Date'.…