Nedbank to Acquire a 20 percent Shareholding in Ecobank

Ecobank Transnational Incorporated (ETI) and Nedbank Group Limited (Nedbank Group) jointly announced that Nedbank Group is to acquire a 20 percent shareholding in ETI. Nedbank Group will subscribe in cash for 4,512,618,890 new ETI shares for USD493.4 million. ETI will repay Nedbank’s loan of USD285 million granted to ETI in 2011 out of the subscription