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ADC African Development Corp GmbH & Co KGaA Divests its Shareholding in Banco Nacional de Guinea Ecuatorial


Wednesday, 15 May 2013 10:39am EDT 

ADC African Development Corp GmbH & Co KGaA (ADC) announced that it has exited from its 25% shareholding in Banco Nacional de Guinea Ecuatorial (BANGE) to co-shareholders in the bank. ADC acquired its stake in BANGE in December 2008 for EUR 2.7 million when the bank faced huge losses. After a 4-year investment period, ADC handed the management of the bank to a local CEO and started preparations for its exit. Negotiations concluded with co-shareholders of the bank who paid a purchase price of EUR 9.0 million. 

Company Quote

9.455
0.096 +1.03%
19 Dec 2014