NCBA Group shareholders will receive cash and stock in Nedbank Group worth Sh116.3 billion in exchange for ceding a 66 percent stake in the Kenyan lender to the South African giant.
Investors in Nairobi Securities Exchange-listed NCBA will pocket Sh23.24 billion in cash and also take 43.63 million shares of Nedbank valued at Sh93 billion, based on the multinational’s latest trading price of 272 rand (Sh2,133) on Tuesday.
