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IFC and its two funds decide to sell their shares in Amen Bank.

(TAP) - The International Finance Corporation (IFC) (affiliated with the World Bank Group) and its two funds, "IFC Capitalisation Fund, L.P." and "Africa Capitalisation Fund, Ltd.," all three current shareholders of Amen Bank S.A (holding 9.998% of the capital and voting rights) decided to exercise their option to sell all or part of their interests in the bank.

According to a press release posted on Thursday by Amen Bank on the website of the Tunis Stock Exchange, the exercise of this put option complies with the agreements, terms and provisions contained in the deeds sealed in 2013, and comes after a financial and technical partnership with Amen Bank, marked by several technical assistance missions that helped the bank strengthen its governance and risk management.

Prior to this exercise, the IFC and its two funds (collectively referred to as the "IFC Parties") shall organise a liquidity phase over sixty days during which they may offer for sale Amen Bank securities on the Tunis Stock Exchange.

At the end of this period, IFC Parties reserve the right to request Amen Bank's sponsors to purchase all or part of the remaining unsold shares

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Publication:Agency Tunis Afrique Press
Date:Sep 29, 2017
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