Official: AMCON Selects Skye Bank As Successful Bidder for Mainstreet Bank

Nigeria’s state-owned rescue bank AMCON has selected mid-tier lender Skye Bank, as the successful bidder to buy nationalised lender Mainstreet Bank, AMCON said.

Asset Management Company of Nigeria (AMCON) had sought bidders for the sale of its 100 percent stake in Mainstreet Bank, one of three banks nationalised following a $4 billion central bank bailout that saved several Nigerian lenders from near bankruptcy in 2009.

An AMCON statement released on Saturday did not give details of the agreed price of the sale.

Source: Reuters