I&M Holdings to acquire a 90% stake in Orient Bank.

I&M Holdings, a conglomerate of financial service providers, agreed to acquire a 90% stake in Orient Bank, Uganda's commercial bank. Financial terms were not disclosed. Completion of the transaction is subject to several conditions, including receipt of all regulatory and corporate approvals, including those from the Central Bank of Kenya, the Bank of Uganda, the Capital Markets Authority and the shareholders of the I&M Holdings in a general meeting.