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Centum bids for majority stake in K-Rep Bank

A K-Rep Bank branch on Kenyatta Avenue in Nairobi. The investment firm Centum has announced its intention to raise its stake in the bottom-tier bank. PHOTO | SALATON NJAU

Investment firm Centum on Thursday announced plans to enter the lucrative financial services market with a multi-billion-shilling bid for a controlling stake in K-Rep Bank.

Centum said it had opened negotiations to acquire a 66 per cent stake in the bottom-tier bank whose value the transaction advisers estimated at Sh2.5 billion.

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