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Credit Bank shareholders will loosen their grip on the tier three lender after selling a fifth of the stake to a US-based fund.
ShoreCap III, a multinational private equity (PE) fund managed by US-based Equator Capital Partners, is set to acquire a 20 per cent stake in the lender with links to the Nyachae family.
The deal is pending regulatory approvals, according to regulatory filings to the Competition Authority of Kenya (CAK) published on Friday.
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