Manzi Finances S.A., NSIA Banque Cote d'Ivoire, S.A. (BRVM:NSBC) and NSIA Assurances Côte d'Ivoire signed a share sale and purchase agreement to acquire 97.07% stake Diamond Bank Bénin SA from Diamond Bank Plc (NGSE:DIAMONDBNK) for €61 million of November 3, 2017. Under the terms of the transaction, 1.9 million shares of Diamond Bank Bénin will be acquired. Regulatory approvals have been obtained in all jurisdictions for the transaction. The transaction is due to be concluded before end of 2017. Chike Obianwu, Seeke Atitebi, Bernard Ehigiamusor and Promise Madubuobu of Templars (Barristers & Solicitors) acted as legal advisor for Diamond Bank Plc. Bile-Aka, Brizoua-Bi & Associes provided regional legal support for the Templars team. Pierre Marly and Bertrand Saint-Pierre of CMS Bureau Francis Lefebvre acted as legal advisor for NSIA Participations S.A., parent of NSIA Banque Cote d'Ivoire and NSIA Assurances. Manzi Finances S.A., NSIA Banque Cote d'Ivoire, S.A. (BRVM:NSBC) and NSIA Assurances Côte d'Ivoire completed the acquisition of 97.07% stake Diamond Bank Bénin SA from Diamond Bank Plc (NGSE:DIAMONDBNK) on November 24, 2017. B. Janine Kacou DIAGOU, Chief Executive Officer of the NSIA Participations, has been appointed Chairman of the Board of Directors of Diamond Bank Bénin SA. The transaction was approved by Minister of Economy and Finance of the Republic of Benin after a favorable opinion of the Banking Commission of the West African Economic and Monetary Union.