FSR - FirstRand Limited - Announcement relating to the termination of
FSR
FSR
FSR - FirstRand Limited - Announcement relating to the termination of
discussions between Firstrand and Sterling Bank Plc
FirstRand Limited
(Registration number: 1966/010753/06)
Share code: FSR
ISIN: ZAE000066304
("FirstRand" or "the Company")
ANNOUNCEMENT RELATING TO THE TERMINATION OF DISCUSSIONS BETWEEN FIRSTRAND AND
STERLING BANK PLC
FirstRand shareholders ("Shareholders") are referred to the announcement dated
14 April 2011 regarding discussions between FirstRand and Sterling Bank plc
("Sterling").
FirstRand would like to advise Shareholders that FirstRand and Sterling ("the
Parties") have agreed to terminate discussions regarding the acquisition by
FirstRand of a majority shareholding in Sterling as the Parties have been
unable to agree mutually acceptable terms.
FirstRand continues to believe that Nigeria is a key market for FirstRand`s
African expansion given the strong underlying growth prospects in the Nigerian
financial services sector and will continue to evaluate options regarding the
Company`s entry into Nigeria.
3 June 2011
Merchant Bank and Sponsor to FirstRand
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Legal Advisors to FirstRand
NORTON ROSE AFRICA LEGAL and UDO UDOMA & BELO-OSAGIE
Date: 03/06/2011 12:39:01 Produced by the JSE SENS Department.
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