Sterling bank ends talks buy keystone

It appears that Sterling Bank has ended its talks to acquire Keystone Bank. Here's a brief summary:

Sterling Bank ends talks to acquire Keystone Bank

Sterling Bank, a leading Nigerian bank, has reportedly ended its talks to acquire Keystone Bank, another Nigerian bank. The acquisition talks, which had been ongoing for several months, have been terminated due to disagreements over the terms of the deal.

Reasons for the termination

According to sources, the termination of the talks was due to disagreements over the valuation of Keystone Bank and the terms of the acquisition. Sterling Bank had reportedly offered to acquire Keystone Bank for a significant premium, but Keystone Bank's management was not satisfied with the offer.

Impact on Keystone Bank

The termination of the acquisition talks may have a significant impact on Keystone Bank's future plans. The bank had been struggling to recover from a series of financial challenges, including a takeover by the Asset Management Corporation of Nigeria (AMCON) in 2011. The acquisition talks with Sterling Bank had been seen as a potential lifeline for the bank, but the termination of the talks may force Keystone Bank to explore other options to recover from its financial difficulties.

Impact on Sterling Bank

The termination of the acquisition talks may also have an impact on Sterling Bank's plans. The bank had been looking to expand its operations through acquisitions, and the termination of the talks with Keystone Bank may force it to explore other options. However, Sterling Bank's management has not commented publicly on the termination of the talks, so it is unclear what the bank's next steps will be.

Overall, the termination of the acquisition talks between Sterling Bank and Keystone Bank is a significant development in the Nigerian banking sector, and it remains to be seen how the two banks will move forward in the coming months.