BHCI buy-out: Westbridge considering taking action against the Côte d’Ivoire government
The Canadian firm, which accuses Côte d’Ivoire’s ministry of finance of interfering it its takeover of the state-owned bank, has opened a case at the World Bank and issued an ultimatum to the government, Jeune Afrique Business+ has learned.
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▪ BHCI buy-out: Westbridge considering taking action against the Côte d’Ivoire government
▪ The Canadian firm, which accuses Côte d’Ivoire’s ministry of finance of interfering it its takeover of the state-owned bank, has opened a case at the World Bank and issued an ultimatum to the government, Jeune Afrique Business+ has learned.
▪ https://www.africabusinessplus.com/en/800836/bhci-buy-out-westbridge-considering-taking-action-against-the-cote-divoire-government/
Westbridge Mortgage Reit, a Canadian-based lender, acquired 51.6% of the shares in Banque de l’habitat de Côte d’Ivoire (BHCI) following its privatisation by the government in 2018. Westbridge is now complaining of the intervention by “individuals within the government who do not want these shares to be sold,” as confirmed to Jeune Afrique Business+ by the firm’s CEO JD Diabira.
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