Announced
Financials
Sources
Tags
Uganda
Majority
Friendly
Private
Banks
commercial banking
Acquisition
Pending
Single Bidder
Cross Border
Private Equity
Synopsis
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.
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