Nigeria, July 9 -- The management of Access Bank Plc has announced plans by its Zambian subsidiary to acquire another bank in the country.

The bank told shareholders that it plans to acquire Cavmont Bank Limited, a subsidiary of Capmont Capital.

A disclosure notice sent to the Nigeria Stock Exchange, however, urged stakeholders to exercise caution as no transaction has been agreed on yet.

The bank said it has "entered into exclusive discussions" with Cavmont Capital Holdings Zambia Plc regarding the potential transaction between Access Bank Zambia and Cavmont Bank Limited, a wholly-owned subsidiary of Cavmont Capital.

"The potential transaction relates to the sale of 100 per cent of Cavmont Capital's interest in Cavmont Bank to Access...