CBZ, ZB Banks Hint On Potential Merger

CBZ Holdings and ZB Financial Holdings Limited have notified their shareholders of separate potential acquisitions that could have an impact on securities prices.

In a cautionary statement dated 20 June 2022, the financial institution, said negotiations that could have a material impact on its securities prices are ongoing. Part of the statement read:

ZB Holdings Limited advises its shareholders that one of its company’s shareholders is engaged in negotiations for a potential acquisition of a control block of securities, which if concluded successfully, may have a material effect on the companies’ securities price.

ZB Financial Holdings Limited Group Company Secretary Tinashe Masiiwa advised shareholders to exercise caution when dealing with the company’s securities until a further announcement is made.

On its part, CBZ said negotiations for a potential acquisition were also ongoing.

In a statement dated 17 June 2022, CBZ Holdings Group Legal Corporate Secretary, Rumbidzai Angeline Jakanani said:

Shareholders are advised that CBZ Holdings Limited, “the Company”) in negotiations for a potential acquisition which if successfully concluded may have a material effect on the price of the Company’s securities, the full impact of which is currently being determined.

Accordingly, Shareholders are advised to exercise caution when dealing in the Company’s securities until a full announcement is made.

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