Capital markets regulator approves National Bank takeover offer by KCB

Kenya’s stock market regulator has approved the the offer document related to KCB Group’s proposed acquisition of 100% shareholding of National Bank of Kenya.

The acquisition is expected to occur through a share swap whereby NBK shareholders will exchange 10 ordinary shares for 1 ordinary share of KCB group. 

KCB Group shareholders are expected to vote in favour of the transaction at the upcoming AGM on 30th May 2019.

Read; KCB Plans to Buy Banks in Rwanda and DRC