Nigeria’s state-owned rescue bank Asset Management Corporation of Nigeria (AMCON) has named Skye Bank as the successful bidder to buy nationalised lender Mainstreet Bank.
AMCON had sought bidders for the sale of its 100% stake in Mainstreet Bank, one of three banks nationalised following a $4bn Central Bank bailout that saved several Nigerian lenders from near bankruptcy in 2009.
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AMCON did not share details of the agreed price for the sale.
However, it named Cedar One Investment Partners as the first reserve bidder and Fidelity Bank second if the Skye deal falls through.
Mainstreet has more than 200 branches and is the second of the three nationalised banks to be put up for sale by AMCON.
Last month, AMCON picked HBCL Investment Services as the buyer for the nationalised Enterprise Bank.
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