Skye Bank picked as buyer for Nigeria's nationalised lender Mainstreet

LAGOS Sat Oct 4, 2014 4:45am EDT

LAGOS Oct 4 (Reuters) - Nigeria's state-owned rescue bank AMCON has selected mid-tier lender Skye Bank, as the successful bidder to buy nationalised lender Mainstreet Bank, AMCON said.

Asset Management Company of Nigeria (AMCON) had sought bidders for the sale of its 100 percent stake in Mainstreet Bank, one of three banks nationalised following a $4 billion central bank bailout that saved several Nigerian lenders from near bankruptcy in 2009.

An AMCON statement released on Saturday did not give details of the agreed price of the sale. (Reporting by Chijioke Ohuocha; editing by Susan Thomas)

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