Kenya Central Bank Gets Binding Offer From KCB for Imperial

 In news

The Central Bank of Kenya and the Kenya Deposit Insurance Corp. said they have received a binding offer from KCB Bank Kenya Ltd. for Imperial Bank Ltd.

The bid is dated Sept. 27, the central bank and the insurance deposit company said in an emailed statement, without detailing the terms of the offer.

This comes after the central bank had been negotiating for a year with KCB Group, the sole bidder for some of Imperial’s assets and liabilities, to improve on its proposal for the lender. Imperial failed in 2015 and was taken over by regulators. Source: Bloomberg

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