got $300 million financing to complete the buyout of a controlling stake in Union Bank, according to the investment bank that midwifed the deal.
PAC Capital Limited facilitated the raise of the much-needed cash from Cairo-based African Export-Import Bank , Humphrey Oriakhi, the CEO of the investment bank, said in an emailed statement sent to PREMIUM TIMES. “Specifically, the arranged funding completed the funds required for the proposed acquisition,” Mr. Oriakhi said.
Afreximbank believes the takeover will help unlock tremendous value as the combined entity is anticipated by Titan Trust Bank to provide financing in the region of $3 billion in the medium term. $600 million of that sum is planned to go into backing intra-regional trade finance. PAC Capital has executed fundraising and offered financial advisory services in sectors including power and energy, aviation, financial services, agro-allied & hospitality and telecommunications within Nigeria and across the continent.
Source: News Formal (newsformal.com)
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