British American Buys Housing Finance Shares

British American-Investments completed purchase of 57.3m shrs owned by Equity Group Holdings in Housing Finance Co., British American, Equity Group said in notice published in Kenya’s Daily Nation newspaper.

* British American paid 2.7b shillings for shrs on Dec. 31, additional fee of 48.5m shillings to Equity as part of deal;
* British American’s increased stake in Housing Finance raises its “presence in one of the most promising growth sectors in Kenya”;
* NOTE: Acquisition increases Britam’s stake in Housing Finance to 46.08%;
* NOTE: Nov. 8, Kenya Backs Britam to Buy Equity Bank Shrs in Housing Co.: Daily. Source: Bloomberg