South African owners of Nairobi’s Fairview Hotel, Town Lodge and City Lodge Two Rivers have finally received regulatory approvals to sell the three hotels to Actis for Sh1 billion.
I&M enters Uganda with Sh3.6bn acquisition of Orient Bank stake
Tuesday May 04 2021
By VICTOR JUMA
Summary
The Nairobi Securities Exchange-listed firm said in a statement that the transaction was completed on April 30 after receipt of the necessary approvals.
The lender says the transaction has given it access to additional loans worth Sh7.7 billion, deposits (Sh18.2 billion), 70,000 customers, 14 branches and 22 ATMs.
I&M Holdings #ticker:I&M has completed the acquisition of a 90 percent stake in Uganda’s Orient Bank Limited in a deal worth Sh3.6 billion.
The Nairobi Securities Exchange-listed firm said in a statement that the transaction was completed on April 30 after receipt of the necessary approvals from the Central Bank of Kenya, Bank of Uganda, Capital Markets Authority of Kenya and the Comesa Competition Authority.