Sources close to the transaction reckon that Absa Group will seek at least Sh3.8 billion for the two stakes.
By
Patrick Alushula
Business Reporter
Nation Media Group
An investment firm associated with Prime Cabinet Secretary Musalia Mudavadi is in talks to buy majority stakes in two insurance firms from South Africa’s Absa Group.
Absa Group is selling its 63.32% stakes in two Kenyan insurers to First Assurance Investments, a Mudavadi-linked firm, for at…
The proposed offer price comes after Absa Bank Kenya’s share price had rallied to hit an all-time high of Sh33 before easing to…
The bulk of the lender’s shares are in the hands of the 156 owners who hold above one million units each.
South Africa's Absa is offering about $239 million to raise its Absa Bank Kenya stake to 85%, the latest South African banking…
The firms have been attracted by the faster pace of economic growth in the East African economy compared to their home market.
Absa on Friday announced it intends to up its stake in Kenyan subsidiary Absa Bank Kenya to 85% from 68.5% in a R4bn transaction…
