Stella Dimoko Korkus.com: Diamond Bank And Access Bank Merger -Things You Need To Know

Advertisement

Advertisement - Mobile In-Article

Tuesday, December 18, 2018

Diamond Bank And Access Bank Merger -Things You Need To Know

These are five facts you need to know about the merger....dont panic!






-The merger will potentially create Nigeria and Africa’s largest retail bank by customers.


- The proposed merger would involve Access Bank acquiring the entire issued share capital of Diamond Bank in exchange for a combination of cash and shares in Access Bank via a Scheme of Merger.



-Diamond Bank shareholders will receive N3.13 per share, comprising a cash consideration of N1.00 (one Naira) per Diamond Bank Share representing a total cash amount of N23,160,388,968 (twenty-three billion, one hundred and sixty million, three hundred and eighty-eight thousand, nine hundred and sixty-eight Naira), or US$ 75,588,736.84 (seventy five million, five hundred and eighty eight thousand, seven hundred and thirty six dollars and eighty four cents).




-Diamond Bank will receive an allotment of 6,617,253,991 (six billion, six hundred and seventeen million two hundred and fifty-three thousand, nine hundred and ninety-one) new Access Bank ordinary shares, representing the 2 new Access Bank ordinary shares for every 7 Diamond Bank shares.



-The offer represents a premium of 260% to the closing market price of N0.87 per share of Diamond Bank on the Nigerian Stock Exchange as of December 13, 2018, the date of the final binding offer.
from dailytrust

43 comments:

  1. Replies
    1. It is an acquisition not a merger. Access Bank is acquiring Diamond Bank. And for those asking, CBN cannot possibly release the information before it is concluded to avoid the financial position of the banks being altered significantly.

      Delete
  2. Nah wa! Hope our money is safe....

    ReplyDelete
  3. This is information that should have clearly come out immediately the information was released.
    Not scrambling to combine points together when you see panic withdrawals and a whole lot of information being peddled online and offline and no one knows what is fact or fiction.
    Wake up and be in total control your messaging.
    Una no go hear.

    ReplyDelete
  4. This comment has been removed by a blog administrator.

    ReplyDelete
  5. I think what most people really want is if the savings they have with Diamond bank won't be affected.

    ReplyDelete
  6. So in essence what have you said??

    ReplyDelete
  7. If the name "Diamond" will completely be gone, then its not a merger... Herbert has given us full Access to the Diamond.
    When Standard bank merged with Chartered bank, we got Standard Chartered! So if Access still stands as Access without the diamond, they should just shut up!
    Yeye son has driven his fathers empire to the ground.

    ReplyDelete
    Replies
    1. Gbam
      So I suggest a merger name for the Diamond Access or Access Diamond
      Lol

      Delete
    2. Diamond ass.

      Delete
    3. It’s an acquisition and not a merger.

      Delete
  8. See Stella, these do not apply to most of the people panicking. The people who own huge moola there know all these and have been properly advised. The main people panicking are those employees who are not sure of still retaining their jobs after the merger happens.

    ReplyDelete
  9. I pray my friend doesn't lose her job because once something like this happens, shit goes down for employees.

    ReplyDelete
    Replies
    1. Moreover,all these merger PR talks should stop please. It's the new name "Diamond Access" or something like that? If the new name is solely "Access bank" then it's downright acquisition. Dee Pascal unfortunately trusted his sons too much to manage his dynasty. Imagine living and knowing that it's your fruit that ruined what you have laboured for all your live. This is a prayer point for all parents.

      Delete
  10. And how many hundreds of thousand jobs lost?

    ReplyDelete
  11. Pascal Dozie shd never have appointed his son to run this bank. He shd have employed a neutral person and alloted heavy shares to his son. Instead he prioritised family over building an lasting institution. See where they are now. One of the biggest banks from the East has just been crushed.Too bad!!!

    ReplyDelete
    Replies
    1. They don't train their children well so they can't run any of their empire, most rich men in Nigeria are blessed with bad kids

      Delete
  12. I don't understand this share stuff very well,BT I believe its a gud investment and I would like to venture into it. pls how does 1 go abt,hw is it done

    ReplyDelete
    Replies
    1. Contact a stock broker and he or she will advise you on the best companies to invest your money in.

      Delete
    2. how can be able to contact them,.. I av no idea abt it

      Delete
  13. I blame Diamond bank staff that are still there. We all knew the bank was crashing. Many of us left last year and this year when we saw things that were happening but didn't say anything. I left Diamond last year and I was not surprised when this news came out. I blame their staff. They were careless! They should have left earlier!

    ReplyDelete
  14. The new bank name should be "Access your Diamond" yinmu! They had better not play with my remaining 6k or else.....

    ReplyDelete
  15. no job is lost dear, the branches of the banks will still be in operation but the physical structure will now bear an Access bank themed exterior in addition to the internal restructuring of shares capital.

    ReplyDelete
    Replies
    1. You have no idea of what you are saying. At least 50% of diamond bank full staff will loose their jobs. Also, Access bank will shut down some branches.

      Delete
    2. So you believe no branch will close? Forgetting access bank already had branches? Thry close close many branches and what do you think will happen???

      Delete
  16. madam you were lucky to have left on time please don't blame other staffs, is not when you have some where to go? Or will you sack your self with out any hope?. Access bank is big now because of Lagos State money and Abacha loot that is in their custody. I believe people monies are save and come to think of it no more will go down in Nigeria again without people funds being paid.

    ReplyDelete
    Replies
    1. What if the new Governor in Lagos State decides to take Lagos State’s money elsewhere?

      Delete
    2. They neccesarily don't need to have somewhere before leaving but dey could have been actively applying till something clicks than this last minute rush

      Delete
  17. Sharp practices will never allow Nigerian banks to last. There is no corporate governance in naija. All you have is directors who feed fat and then reserve little or nothing as dividends. They only allow you to know what they want you to know. I can never buy stocks that are owned by Nigerians. They are greedy and that’s why you hardly find Nigerian companies outliving it’s owners. They die with the owners or before the owners.

    ReplyDelete
  18. There is no need to let any soothsayer tell you that jobs wouldn’t be lost. People would definitely loose their jobs. Can the head office roles be done in 2 offices. No. Enterpreneurahip is the way to go. Thinks and start. Take the risk one day at a time. People who are working -employees should learn to save and stop keeping up with the joneses. Buying cars all the time, holidays outside the country, leaving in exotic estates, enrolling kids in schools with outrageous fees.

    ReplyDelete
  19. When you have Money, you have ACCESS to buy DIAMOND

    #copied

    ReplyDelete
  20. why this merging now that i have begin to use diamond bank as a savings account...am just tired

    ReplyDelete
    Replies
    1. It’s not a merger it’s an acquisition.

      Delete
  21. Diamond bank tell the truth, this is an acquisition and not a merger.

    ReplyDelete
  22. Diamond bank tell the truth, this is an acquisition and not a merger.

    ReplyDelete
  23. investing in stocks in Nigeria is a very big fraud. They will sell shares and divert the money to another business. Something is not just adding up cos pascal dozie is a director in MTN N which just got a licence to operate a banking business in Nigeria or might be related to the huge fine MTN is charged by the government.

    ReplyDelete

Disclaimer: Comments And Opinions On Any Part Of This Website Are Opinions Of The Blog Commenters Or Anonymous Persons And They Do Not Represent The Opinion Of StellaDimokoKorkus.com

Pictures and culled stories posted on this site are given credit and if a story is yours but credited to the wrong source,Please contact Stelladimokokorkus.com and corrections will be made..

If you have a complaint or a story,Please Contact StellaDimokoKorkus.com Via

Sdimokokorkus@gmail.com
Mobile Phone +4915210724141