Nouvobanq backs out on Habib Bank Seychelles buyout proposal

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Nouvobanq backs out on Habib Bank Seychelles buyout proposal Empty Nouvobanq backs out on Habib Bank Seychelles buyout proposal

Post  Sirop14 on Sun Sep 09, 2018 9:20 pm

Nouvobanq backs out on Habib Bank Seychelles buyout proposal

08-September-2018
Nouvobanq will not acquire the assets and liabilities of the Seychelles branch of Habib Bank Ltd.

A communiqué from Nouvobanq states that the decision was taken during a board of directors meeting yesterday morning.

The communiqué writes: “As a board, we carefully reviewed the opportunity to acquire the assets and liabilities of the Seychelles Branch of Habib Bank Ltd and we have decided to pass on this.

“We will not proceed with the proposal because we believe that the relative size of the business to be acquired is modest in relation to the current balance sheet strength and size of Nouvobanq and it does not meet our risk/reward threshold.”
http://www.nation.sc/article.html?id=260310

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