Date: = 09/10/2007 ||  7UP = 44.81 ||  ABCTRANS = 2.89 ||  ACADEMY = 5.5 ||  ACCESS = 21.5 ||  ADSWITCH = 3.46 ||  AFPRINT = 2.75 ||  AFRIBANK = 30.49 ||  AFROIL = 5.76 ||  AFRPAINTS = 1.01 ||  AGLEVENT = 3.13 ||  AIICO = 3.22 ||  AIRSERVICE = 18.5 ||  ALEX = 2.56 ||  ALUMACO = 2.65 ||  AP = 79.8 ||  ARBICO = 2.5 ||  ASHAKACEM = 50.5 ||  AVONCROWN = 4.23 ||  BAICO = 2.42 ||  BCC = 43.5 ||  BCN = 0.9 ||  BERGER = 7.02 ||  BETAGLAS = 16.5 ||  BOCGAS = 7.91 ||  CADBURY = 32.7 ||  CAP = 43.35 ||  CAPALBETO = 37.27 ||  CAPOIL = 0.81 ||  CCNN = 17.5 ||  CHELLARAM = 4.35 ||  CHEVRON = 145 ||  CILEASING = 5 ||  CONOIL = 53 ||  CONTINSURE = 3.04 ||  CORNERST = 3.52 ||  COSTAIN = 20 ||  CRUSADER = 4.28 ||  CUSTODYINS = 3.16 ||  CUTIX = 21 ||  DANGSUGAR = 35.5 ||  DIAMONDBNK = 17.15 ||  DNMEYER = 8.7 ||  DUNLOP = 2.99 ||  ECOBANK = 8.88 ||  EKOCORP = 7.49 ||  ELLAHLAKES = 2.92 ||  EPICDYNAM = 0.38 ||  EQUITYASUR = 1.79 ||  ETERNAOIL = 17 ||  ETI = 173.25 ||  EVANSMED = 7.25 ||  FCMB = 17.45 ||  FIDELITYBK = 11.99 ||  FIRSTALUM = 2.02 ||  FIRSTBANK = 40.5 ||  FIRSTINLND = 10.6 ||  FLOURMILL = 77.99 ||  FOOTWEAR = 2.26 ||  GLAXOSMITH = 17.11 ||  GNI = 3.8 ||  GUARANTY = 29 ||  GUINEAINS = 1.94 ||  GUINNESS = 126 ||  IBTC = 14.3 ||  IKEJAHOTEL = 7.14 ||  INTENEGINS = 2.44 ||  INTERCONT = 26 ||  INTERLINK = 1.8 ||  IPWA = 3.4 ||  JAPAULOIL = 6.02 ||  JBERGER = 57.29 ||  JOHNHOLT = 3.8 ||  JULI = 0.68 ||  LASACO = 2.89 ||  LAWUNION = 3.17 ||  LINKASSURE = 2.55 ||  LIVESTOCK = 2.99 ||  LONGMAN = 13 ||  MAYBAKER = 10.89 ||  MBENEFIT = 3.1 ||  MOBIL = 158.98 ||  NAHCO = 22.81 ||  NAMPAK = 8.37 ||  NASCON = 16.9 ||  NB = 43.6 ||  NBC = 54.5 ||  NCR = 4.2 ||  NEIMETH = 3.67 ||  NEM = 2.84 ||  NESTLE = 210 ||  NIG-GERMAN = 16.7 ||  NIGERINS = 4 ||  NIWICABLE = 3.3 ||  OANDO = 76.5 ||  OASISINS = 2.02 ||  OCEANIC = 33 ||  OKITIPUPA = 1.95 ||  OKOMUOIL = 27 ||  PHARMDEKO = 5.15 ||  PLATINUM = 30.27 ||  PREMPAINTS = 1.11 ||  PRESCO = 9.5 ||  PRESTIGE = 6.3 ||  PZ = 23 ||  RAKUNITY = 0.31 ||  ROYALEX = 3.89 ||  RTBRISCOE = 27.99 ||  SCOA = 2.59 ||  SKYEBANK = 14.6 ||  SOVRENINS = 3 ||  STACO = 2.57 ||  STDINSURE = 3.87 ||  STERLNBANK = 7.55 ||  THOMASWY = 3.6 ||  TOTAL = 153 ||  TOURIST = 2.81 ||  TRANSCORP = 4 ||  TRANSEXPR = 0.78 ||  TRIPPLEG = 5.2 ||  UAC-PROP = 22 ||  UACN = 38.63 ||  UBA = 53.08 ||  UBN = 42.91 ||  UNHOMES = 6 ||  UNIC = 3.15 ||  UNILEVER = 17.01 ||  UNIONDICON = 8.56 ||  UNITYBNK = 5.8 ||  UNTL = 2.8 || 
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News
Date Posted: 11-08-2007 02:54:28
IBTC-STANBIC MERGER (FINANCIAL STANDARD BY FRIDAY ATUFE)
Standard Bank of South Africa (SBSA) is to invest N64 billion into the Nigeria \'s economy through its planned acquisition of 55 per cent shareholding in IBTC Chartard PLC under the proposed merger of IBTC and Stanbic Bank Nigeria Limited . Stanbic Bank is a subsidiary of SBSA.

Mr. Greg Brackenridge, managing director of Stanbic Nigeria , said in Lagos Monday that though the Bank is currently seeking 50.1per cent Equity of IBTC Chartard Bank to consummate the merger, its ultimate is to acquire 55 per cent shareholding in the Long run.



He said if Stanbic Bank fails to obtain 50.1 per cent of the shareholding of IBTC Chartard through the ongoing tender offer Price from about N30 billion currently to N94 billion.



Stanbic Bank and IBTC Chartard Are seeking to merge their operations in furtherance of the consolidation that was engineered by Central Bank of Nigeria in 2004 in the Nigerian banking Industry .
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