Orient Bank has broken its silence on the sale of its 90% stake to Kenya’s I&M Holdings PLC. In a statement titled: Update statement on the proposed acquisition of Orient Bank Limited by I&M Holdings PLC, published in local media, the bank states: “On 17th July 2020, the shareholders of Orient Bank limited (the Bank) entered into an agreement with I&M Holdings PLC for the sale of 90% of the issued share capital of the bank. The transaction is subject to conditions including regulatory approvals from the Bank of Uganda, Central Bank of Kenya, and Capital Markets Authority of Kenya,”…
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