Qatar National Bank says buying 12.5 percent stake in Ecobank

DUBAI, Sept 4 Thu Sep 4, 2014 7:48am EDT

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DUBAI, Sept 4 (Reuters) - Qatar National Bank, the Gulf's largest bank, said on Thursday it was acquiring a 12.5 percent stake in pan-African lender Ecobank Transnational Incorporated (Ecobank).

No value for the transaction was given in QNB's statement, which stated that the 12.5 percent stake it would hold would consist of current outstanding ordinary shares and the conversion of QNB's convertible preference shares. (Reporting by David French; Editing by Mark Potter)

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