April 18, 2017 / 12:29 PM / 3 months ago

BRIEF-Nedbank updates on investment in Ecobank Transnational Inc

1 Min Read

April 18 (Reuters) - Nedbank Group Ltd:

* Voluntary announcement relating to the release of 2016 Ecobank Transnational Incorporated financial results

* Will equity account its share of ETI's Q4 loss in Q1 2017. Q1 associate loss from ETI therefore amounted to about R1.2 bln (Q1 2016: R676 mln loss)

* Associate loss, share of ETI's OCI, Nedbank FCTR, will decrease carrying value of co's investment in ETI from R4.0 bln in Dec. 2016 to about R2.9 bln in March 2017

* Currently not part of existing investors who have indicated appetite for ETI's $300 mln funding as bond's commercial terms do not meet required IRR Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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