Standard--CFC gets green light.

Author:Rosenberg, Anna
Position:AFRICAN BANKER'S WORLD - CFC Bank. - Brief article

As well as Standard Bank of South Africa and the Industrial and Commercial Bank of China (ICBC) having received the necessary regulatory and shareholder approval to proceed with their $4.8bn tie up, Standard Bank has also finalised the recent merger of its subsidiary Stanbic Kenya with Kenya's CFC Bank in a KSh19bn ($279m) transaction. The deal gives the South African bank a 60% stake in the merged entity with the remaining 40% of the new business' equity being held by the public through the Nairobi Stock Exchange. Kenya's...

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