Banking group I&M Holdings #ticker:I&M will pay Sh3.6 billion to acquire a 90 percent stake in Uganda’s Orient Bank, according to disclosures in a circular to shareholders.
The shares will be bought from Hemlata Karia, Jay Karia, Morka Holdings Limited, Zhong Shuang Quan, Cornerstone M8 Limited and the bank’s founder Ketan Morjaria.
