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KCB group to acquire Rwandan and Tanzanian banks

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The Kenya Commercial Bank, KCB group is set to acquire 62.6 percent in Banque Populaire du Rwanda and 100 percent African Banking Corporation Tanzania limited.

The bank is Kenya’s top lender.

This was disclosed yesterday.

KCB group CEO Joshua Oigara.

It will pay cash for the shares in the Rwandan bank to be computed using a price to book multiple of 1.09.

In the ABC Tanzania deal, KCB will also pay cash, using a price-to-book multiple of 0.42, the group said.

Both of the transactions are still subject to various approvals.

 

 

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