NCBA to suspend shares trading as Nedbank completes acquisition
Originally published by KBC Digital — Read the original article →
South African banking giant, Nedbank Group has completed the acquisition of 66% controlling stake in Kenya’s NCBA Group Plc.
The transaction which has now become unconditional following acceptance by NCBA shareholders to sell 1,087,362,891 of ordinary shares valued at an estimated Ksh 110 billion.
“NCBA has built a strong East African brand anchored on customer centricity and innovation. With the backing of Nedbank, we are now poised to boldly go after opportunities across the East African region, expand our footprint and bring to market a more sophisticated set of products,” said John Gachora, NCBA Group Managing Director.
