Standard--CFC gets green light.

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