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ABKI ABLI - African Bank’s acquisition of the SPEIH and CEF businesses
AFRICAN BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registered Bank)
(Registration No. 2014/176899/06)
LEI: 2549008X8SL1B1J86F98
Company code: ABKI
(the "Bank" or "African Bank")
AFRICAN BANK HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration No.: 2014/176855/06)
Company code: ABLI
LEI: 254900UUEMIK0XL5A056
("ABHL" or the "Group")
African Bank's acquisition of Sasfin Bank's Capital Equipment Finance and Commercial Property Finance businesses concluded
Shareholders and Noteholders are referred to the announcements released on SENS on 13 October 2023, 23 February 2024 and
6 August 2024 wherein we advised that African Bank had entered into agreements with Sasfin Bank Limited ("SBL") for the
acquisition of its Capital Equipment Finance Business ("CEF Business") and Commercial Property Finance Business
("CPF Business") as going concerns in one indivisible transaction (the "Acquisition").
African Bank is pleased to announce that, following various conditions precedent having been met, the purchase and transfer
of the CPF Business took place on 21 August 2024. The CEF Business acquisition has also been successfully purchased and
transferred with effect from today, 1 November 2024.
In line with African Bank Excelerate25 strategy, the acquisition of these two business units has further bolstered the Business
& Commercial division and its ability to support entrepreneurs, with its product suite now including leasing, rental finance,
and instalment sales agreements.
1 November 2024
Debt Sponsor
The Standard Bank of South Africa Limited
Date: 01-11-2024 05:11:00
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