Enterprise Bank going soon

Enterprise Bank Set for Local Buyer After Bids

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Enterprise Bank Ltd., the Nigerian lender taken over by the state in 2011, may be sold to a unit linked to Heritage Banking Co., with a second local institution next in line.
While HBC Investment Services is the preferred buyer, Nigeria’sFidelity Bank Plc (FIDELITY) is the “reserve bidder for the acquisition of the entire issued and fully paid up ordinary shares of Enterprise Bank,” the Asset Management Corp., or Amcon, said in a statement yesterday.
“This process started with interest shown by 24 parties cutting across local and international bidders,” said Amcon, which is based in the capital, Abuja. The sale is being coordinated by a unit of Citigroup Inc. (C) and Vetiva Capital Management Ltd., it said.
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