* FirstRand, Skye Bank eye nationalised banks
* AMCON yet to decide how to proceed with sales
By Chijioke Ohuocha
LAGOS, May 30 Nigeria's "bad bank" AMCON will
appoint financial advisers by June 15 to manage the sale of
three lenders that were nationalised in 2011 and recapitalised,
its chief executive told Reuters on Thursday.
Nigeria nationalised the lenders when they failed to find
new investors before a recapitalisation deadline. It changed
their names to Mainstreet Bank from Afribank, Enterprise Bank
from Spring Bank and Keystone Bank from Bank PHB.
AMCON plans to sell 100 percent of each but has yet to
decide on the best way to proceed.
"We have advertised for a financial adviser who will take
charge of the process," said Mustapha Chike-Obi, the CEO of
state-owned AMCON. He said the advisers would solicit
expressions of interest from prospective investors.
Chike-Obi said he expected strong interest in the three
banks from local and foreign institutions. He pointed out that
South Africa's number-two lender, FirstRand, had
informed AMCON of an interest in acquiring Keystone bank.
FirstRand CEO Sizwe Nxasana told Reuters last week that the
South African lender was keen on buying either Keystone or
Nigeria's Skye Bank will bid for one of the
three banks, depending on valuations, its CEO Kehinde
Durosimi-Etti told a shareholder meeting last week, where
management sought approval to raise 50 billion naira.
AMCON said last week it expected to complete the sales by
the third quarter of 2014.
(Editing by Tim Cocks and Tom Pfeiffer)