Asset Management Corporation of Nigeria
Selection of Financial Adviser
Invitation for Expression of Interest
In August 2011 the Asset Management Corporation of Nigeria (“AMCON”) was invited by the Nigerian Deposit Insurance Corporation (“NOIC”) to capitalize three Bridge Banks it had created namely; Mainstreet Bank Limited, Keystone Bank Limited and Enterprise Bank Limited. AMCON currently owns the entire equity capital of these three banks and it intends to divest of them over a defined investment horizon.
AMCON is in the process of seeking Expressions of Interest from leading Investment Banks in providing advisory services on AMCON’s strategic options for its shareholding in the three Banks. Interested advisers are invited to provide information indicating that they are qualified to perform the services. Each interested party should submit an Expression of Interest detailing the following, as basis for pre-qualification;
- Proof of relevant experience in the sector and type of the contemplated transactions. Experience in the Nigerian and African markets would also be positively considered.
- Prior experience in advising companies from the Financial institutions Group in emerging markets on M and A transactions
- Proposed team composition and its proposed structure including relevant experience of the members of the team during the past three years.
- Initial thoughts on the assignment including your recommendations.
- Proposed fee structure.
- State any potential conflict of interest.
- Each proposal submitted must state validity period.
The selection process would be held in two phases with the first phase outlined above. In a second phase to follow shortly thereafter, a limited number of candidates will be issued a Request for Proposal (RFP) in respect of AMCON’s strategic options for the three Banks.
AMCON reserves a right to amend or cancel this process at any time without cause.
Scope of Work:
Each appointed party shall ensure that the following tasks are conducted:
- Review and assess the current status of the three Banks.
- Advise and recommend to AMCON its best available options for its shareholding in each Bank.
- Develop a detailed strategic option plan for each of the three Banks.
- Perform detailed financial analyses in the context of the transaction.
- Assist with engagement of all stakeholders to the Banks.
- Assist in the development and management of all aspects of communication in respect of the transaction.
Submission of Expression of Interest
Expressions of Interest shall be in English and shall be titled “Expression of Interest for the Selection of Financial Advisers”. The expression of interests should be delivered on or before 19th March 2012 by 5.00pm to the following email address:
Email: financialadvisersrfp@amcon.com.ng
