The stock option was done at a conversion rate of 4.02994 shares for every 100 NCBA shares.
By
Charles Mwaniki
Business Reporter
Nation Media Group
NCBA Group shareholders will receive cash and stock in Nedbank Group worth Sh116.3 billion in exchange for ceding a 66 percent stake in the Kenyan lender to the South African giant.
NCBA will help Nedbank diversify its business, which currently comprises operations in six southern African markets.
Only investors with 7,520 NCBA shares or more have been offered cash-and-stock compensation to meet the condition of holding at…
The deal will see Kenyatta families and former Central Bank governor Philip Ndegwa emerge as major beneficiaries of a transaction…
The latest approvals add to earlier clearances from the Prudential Authority of the South African Reserve Bank, leaving only a…
The tier-one lender said profit after tax rose to Sh6 billion in the three months to March 31, up from Sh5.5 billion a year…
Two of Kenyas wealthiest and most influential business families are poised to receive a combined payout worth approximately $170…
