Nedbank Zimbabwean Associate Company Ends Merger T
Nedcor Limited - Nedbank Zimbabwean Associate Company Ends Merger Talks
Release Date: 23/06/2004 16:52:00 Code(s): NED
NEDCOR LIMITED - NEDBANK ZIMBABWEAN ASSOCIATE COMPANY ENDS MERGER TALKS
Nedcor Limited
(Incorporated in the Republic of South Africa)
Registration number: 1966/010630/06
JSE share code: NED
ISIN code: ZAE000004875
(`Nedcor`)
NEDBANK ZIMBABWEAN ASSOCIATE COMPANY ENDS MERGER TALKS
In an announcement on 15 April 2004, it was disclosed that the major
shareholders of Merchant Bank of Central Africa Limited (`MBCA`), including
Nedcor Limited subsidiary Nedbank Limited (`Nedbank`) and Old Mutual Zimbabwe,
signed a memorandum of understanding with Trust Holdings Limited, the
shareholder of Zimbabwe`s Trust Bank Corporation Limited (`Trust Bank`) to enter
into formal discussions regarding the possible merger of Trust Bank and MBCA.
MBCA is an associate company of Nedbank.
MBCA has decided not to proceed with the merger with Trust Bank. MBCA has
advised the board of Trust Bank and the Reserve Bank of Zimbabwe of its
decision.
23 June 2004
Sandton
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