Yves Fotso to auction assets worth billions of CFA

Yves Michel Fotso will proceed to auction his assets at the Central Africa Commercial Bank come March 31, 2015.

These assets of the corporations, Fotso Group Holdings and Capital Financial Holdings Luxembourg contains 136,250 shares with a nominal value of 10,000 Cfa Francs each (i.e. 1,362,500,000 Cfa Francs in cash).

Prior to the auction which will take place in Bangui, a meeting for the call to tender will be held at the premises of the Central African Republic bailiff, Alain Benoît Serge Dameyo according to an advertisement published March 16, 2015 by the latter.

This sales of assets will thus lead to the withdrawal of the Cameroonian businessman, Yves Michel Fotso (currently imprisoned in Cameroon in case of purchase of a presidential plane), from Central Africa Commercial Bank, a subsidiary of a bank group in the Central African Republic founded by Victor Fotso in Cameroon his billionaire father.