Vista Bank, part of Vista Group, a financial services company under Lilium Capital, founded by American-Burkinab investor Simon Tiemtor, has emerged as the lead contender to acquire a controlling stake in ACEP Cameroon, one of the countrys top microfinance institutions.
The talks, described as advanced by sources familiar with the matter, center on about 50,400 shares roughly 33 percent of ACEP Cameroons equity jointly held by Investisseurs Partenaires and ACEP International. Both have been shareholders since 2011.
Negotiations are ongoing, but the deal still requires a final agreement and regulatory approval. If cleared, Vista Bank would strengthen its footprint in Central Africa, a region where its earlier bid to acquire Socit Gnrales operations in Equatorial Guinea and Congo-Brazzaville fell through after the governments exercised pre-emption rights.