Dutch equity investor Arise has reached an agreement with the International Finance Corporation (IFC) to acquireits 14.1% stake in pan-African banking conglomerate Ecobank.
Ecobank is headquartered in Togo and has banking operations in 36 African countries.
Arise focuses on investing in financial institutions and financial services providers in Africa and has a combined asset value of $700 million.
The transaction is expected to close in the second half of 2019, subject to regulatory approvals.