According to the bank’s company secretary, Access Holding Plc’s subsidiary, Access Corporation, completed the deal before announcing that Access Holding Plc’s wholly owned subsidiary Access Bank Plc, had signed a contract with Montepio Holding SGPS S.A. To buy a majority 51 percent ownership stake in Finibanco Angola S.A.
The Transaction will be carried out through the acquisition of existing Montepio shares; which serve as the holding company for Banco Montepio, one of Portugal’s reputable commercial banks.
The transaction advances the Bank’s plan to serve as Africa’s international payment gateway; while collaborating with other multilaterals with an interest in the continent to develop reliable and effective payment platforms and ecosystems.