PANAMA CITY BEACH, Fla., Oct. 2, 2013 /PRNewswire/ -- Today, Leone Asset Management, Inc., (Pink Sheets: SLOU) announced it has signed an MOU to acquire the equity and managerial control of The Guinea Investment Bank (GIB).
Leone Asset intends to complete all final due diligence and complete the acquisition within 60 days.Â At the time of completion, the company intends to change the name of GIB to JP Anderson to continue the branding and the expansion of Leone Asset's subsidiary JP Anderson throughout West Africa.
"Currently, GIB is the only company to own an investment banking license in the Republic of Guinea." stated Leone Asset President, Tony Khodadad.Â The country has roughly 12 million people and is experiencing a tremendous amount of internal growth as well as attracting interest from foreign corporations and investors, and the need for an Investment Bank is key to the overall development of the country and its industries.Â The build out of the newly licensed entity will be a key component to our expansion of JP Anderson offices throughout West Africa."
About Leone Asset Management
Leone Asset Management, Inc., is a U.S. corporation headquartered in Panama City Beach, FL. Â Sierra Leone subsidiary, Leone Asset Management, Ltd., operates as a Government contractor as well as owning and operating a group of diversified subsidiaries that provide financial advice on individual wealth management, mergers, acquisitions, restructurings, financing, real estate and development, and capital raises to a global client base including individuals, corporations, partnerships, institutions and governments.Â For additional information, visit: www.leoneasset.com
SOURCE Leone Asset Management, Inc.