Fortiz has not purchased Merchant Bank; Ignore announcement by Fortiz – Kofi Bentil

• Posted on December 5, 2013December 5, 2013
• by Nana Kwesi Coomson
• Comment

The legal team of the plaintiff in the Merchant Bank sale suit has urged the public to disregard the announcement made by Fortiz Private Equity Limited that it has completed the acquisition of Merchant Bank.

“Whoever wrote that statement will know that it’s not possible to say that the sale or the purchase by Fortiz is complete because you can’t say a purchase like that is complete until you’ve been given a share certificate and your name has been entered in the list of members, and they are very far away from that,” explained Kofi Bentil; a member of Mr. Awuni’s legal team.

Fortiz Private Equity Limited on Wednesday announced the completion of the acquisition of Merchant Bank Ghana Limited after reportedly meeting the requisite and immediate conditions set by the Bank of Ghana.

Mr. Bentil further clarified that there are a number of steps yet to be completed by Fortiz before the acquisition could be described as complete.

He described as ‘strange’, the decision by Fortiz to publicly announce their final takeover of Merchant while “being aware of these facts.”

According to him, the legal team of Mr. Awuni is setting the record straight because “people are quite worried about the statements that were made and other people have even repeated them [Fortiz] that the matter is complete so what’s the point?”

He advised the public “to disregard the statement that was made because indeed, the subject of that purchase is what we are dealing with in court and as long as it is in court or as long as the injunction issue has not been determined, all steps towards that are suspended and if anybody takes any further steps, that person will be in contempt of court.”



By: Efua Idan Osam