19th November, 2019
Equity Group Has Entered Into A Share Purchase Agreement To Purchase 66.53% Of Shares In Banque Commercial Du Congo. The BCDC New Business Will Eventually Be Joined With That Of Equity Bank Congo.The Agreement Is Subject To Regulatory Approvals From Relevant Authorities. The Nairobi Securities Exchange?Listed Bank Said It Will Pay $105 Million (Sh10.7 Billion) In Cash For The 625,354 Shares In BCDC In A Deal Inclusive Of Dividends That The Bank Will Declare After January 1. Equity Already Has A Subsidiary In DR Congo, Which It Acquired In May 2015, And Will Seek To Integrate The Two Banks In A Merger That Will Create The Second Largest Bank In The Central African Nation.