Mahamadou Bonkoungou’s IB Bank, Ecobank and AGIR completing their due diligence for BTCI and UTB takeover
Our sources tell us that only three candidates remain in the race for the takeover of the two Togolese banks, Union Togolaise des Banques (UTB) and Banque Togolaise pour le Commerce et l’Industrie (BTCI).
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▪ Mahamadou Bonkoungou’s IB Bank, Ecobank and AGIR completing their due diligence for BTCI and UTB takeover
▪ Our sources tell us that only three candidates remain in the race for the takeover of the two Togolese banks, Union Togolaise des Banques (UTB) and Banque Togolaise pour le Commerce et l’Industrie (BTCI).
▪ https://www.africabusinessplus.com/en/806121/mahamadou-bonkoungous-ib-bank-ecobank-and-agir-completing-their-due-diligence-for-btci-and-utb-takeover/
The other two competitors did not follow through after the opening of the data room, including Vista Bank, owned by Simon Tiemtoré’s Lilium Capital. The US-based businessman, who is already active in banking in The Gambia and Sierra Leone, has recently taken over BICIAB and BICIGUI from BNP Paribas in Burkina Faso and Guinea respectively. He is therefore concentrating his efforts in the immediate future on the integration of these two new institutions, and preferred not to pursue his interest in Togo.
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