PAC Capital Limited (“PAC Capital”), (www.PACCapitalLtd.com), the investment banking arm of PanAfrican Capital Holdings, successfully raised US$300 million in funding from the African Export-Import Bank (“Afreximbank”) on behalf from Titan Trust Bank (“TTB”) to support the acquisition of a majority stake in Union Bank Plc, Nigeria (“UBN”).

PAC Capital CEO Humphrey Oriakhi made this known in a statement shortly after the deal was sealed.

Humphrey said: “Specifically, the concerted financing completed the funds necessary for the proposed acquisition.”

PAC Capital Limited is the investment banking and advisory arm of PanAfricanCapital Holdings, with an excellent track record of successful fundraising and financial advisory services in the aviation, financial services, telecommunications, power and energy, oil and gas, agri-food industries. and hospitality in Nigeria. and through and beyond Africa.

This acquisition is expected to enhance the competitive dynamics of the Nigerian banking sector while maintaining confidence in the Nigerian financial services industry and broader financial stability. The development impact of the acquisition, as stated by Afreximbank, is immense, as TTB plans to leverage the merged entity to provide financing of approximately US$3 billion over the medium term, of which more than US$600 million will support directly the financing of intra-regional trade.

This landmark deal comes shortly after the investment banking firm was awarded the “Best InvestmentBanking and Advisory Firm Nigeria 2022” by the World Business Outlook Awards shortly after the landmark deal was closed.