Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group has confirmed the execution of a share purchase agreement between Nedbank Group Limited and Bosquet Investments Limited.
Bosquet Investments Limited, the private investment vehicle of Alain Nkontchou has acquired 21.22 percent stake in Ecobank Transnational Incorporated earlier held by Nedbank Group Limited. This transaction is still subject to regulatory approvals.
The sale follows Nedbank’s decision to realign its strategy towards its core markets in Southern and Eastern Africa where the Group owns and controls businesses.