Humphrey Oriakhi, the Managing Director, PAC Capital has disclosed that PAC Capital Limited (“PAC Capital”) the investment banking arm of PanAfrican Capital Holdings has supported the acquisition of a majority stake in Union Bank Plc, Nigeria by raising US$300 Million funding from the African Export-Import Bank (“Afreximbank”) on behalf of Titan Trust Bank (“TTB”) shortly after the deal was sealed.
Humphrey said, “Specifically, the arranged funding completed the funds required for the acquisition.”
As the Investment Banking and Advisory arm of PanAfricanCapital Holdings, PAC Capital Limited is known for its top-notch track record of successful fundraising and financial advisory services across Aviation, Financial Services, Telecommunications, Power & Energy, Oil & Gas, Agro-Allied and Hospitality sectors in Nigeria and beyond.
The acquisition of a majority stake in Union Bank Plc is expected to enhance the competitive dynamics of the Nigerian banking sector while maintaining confidence in Nigeria’s financial services industry and broader financial stability.
According to Afreximbank, the development impact of the acquisition is huge as Titan Trust Bank plans to provide financing of about US$3 billion over the medium term of which over US$600 Million will directly support intra-regional trade finance.
FBN Holdings Plc. is a non-operating financial holding company of one of the lar...LEARN MORE
African Alliance Insurance Plc is widely recognized as the most experienced and ...LEARN MORE
Abbey Mortgage Bank Plc is the premier, largest, and most profitable, non-aligne...LEARN MORE