Absa and PSG Investment Bank are on the verge of announcing an agreement for Absa to purchase the smaller PSG Investment Bank from PSG Group, market sources told I-Net Bridge.

The terms of the deal are expected to be released in the next few hours.

Speaking to I-Net Bridge, several spokespersons confirmed the sale, although they were unable to detail the terms until they are released on the Stock Exchange News Service.

I-Net Bridge