Access Bank PLC (NGSE:ACCESSCORP) entered into agreement to acquire Consumer, Private & Business Banking business of Standard Chartered in Tanzania on July 14, 2023. Access Bank also agreed to acquire Standard Chartered subsidiaries in Angola, Cameroon, The Gambia, and Sierra Leone. The transaction remains subject to the approval of the respective local regulators and the banking regulator in Nigeria.

The transaction is expected to close over next 12 months. Exotix Advisory Ltd acted as financial advisor and DLA piper acted as a legal advisor to Access Bank. Georgia Barrow, Duncan Bellamy, Chakrabarti, Arnondo, Niamh Dennehy-Maher, Richard Evans, Tim Harrop, Jim Ford, Jessica Kerslake, Catherine Lang-Anderson, Bonn Lee, Ke Jia Lim, Paul McCarthy, Ross Renforth and Sophie Roozendaal of Allen & Overy LLP acted as legal advisor to Standard Chartered PLC.