Equity Group Kenya buys 66.5% of BCDC Congo from George Forrest

Equity Group to pay Belgian businessman George Forrest $105 million for 625,354 shares of Banque Commerciale du Congo, including dividends declared after Jan. 1 this year, or a cum-dividend price of $167.9 per share, Nairobi- based lender says in emailed statement.

* BCDC business will be amalgamated with Equity Group’s banking subsidiary in Congo, Equity Bank Congo;
* Equity Group shareholders also approve purchase of shares held by KfW, comprising 7.6% of Equity Bank Congo’s share capital;
* NOTE: Both transactions require approval of Congo central bank;
* NOTE: Sept. 10, Equity Will Spend At Least $170m on BCDC Deal, Standard Says. Source: Bloomberg