Transaction Summary
On December 12, 2024, Access Bank Plc (Access Bank), the corporate banking subsidiary of Access Holdings Plc (Access Holdings), announced a binding agreement to acquire a 100% equity stake in Bidvest Bank Limited (Bidvest Bank), a corporate banking subsidiary of Bidvest Group Limited, for an undisclosed amount. Bidvest Bank operates over 140 retail banking outlets across South Africa and specialises in foreign exchange services, fleet and asset finance and deposit-taking. The majority shareholders of Bidvest Bank include South Africa’s government-owned investment management company, Public Investment Corporation (PIC) (42.13%), Westwood Global Investments LLC (6.53%), and GIC Asset Management Pte Ltd (5.04%), BlackRock Inc. (4.19%), and The Vanguard Group Inc (4.09%) collectively controlling 61.98% of the bank. Additional minority shareholders include Lazard Asset Management LLC Group, Old Mutual Ltd, and Sanlam Investment Management. The acquisition is expected to close in the second half of 2025, pending regulatory approvals from the South African
