Ecobank considers sale of $500M stake in Nigerian unit: Albert Essien, CEO, Ecobank

Albert Essien, CEO, Ecobank

Ecobank Transnational Inc. is considering selling a stake in its Nigerian subsidiary as part of a plan to raise about $500 million of equity for the unit.

“It’s possible that could happen,” Chief Executive Officer Albert Essien said about selling part of Ecobank Nigeria. He spoke by phone yesterday from Abidjan, Ivory Coast’s commercial capital. “There’s a board policy that we could, if we wanted, sell down and hold 75 percent in our subsidiaries.”

Read more: Ecobank Considers Sale of Stake in Nigerian Unit – Businessweek.