It could cost Equity Group #ticker:EQTY at least $170 million (Sh17.6 billion) to acquire DRC Congo’s second largest lender Banque Commerciale du Congo (BCDC) based on the price multiple of the lender’s previous DRC acquisition.
The Standard Investment Bank (SIB) estimate is based on BCDC’s book value at the end of 2018 and the price Equity paid to settle the 2015 deal when acquiring ProCredit Bank, another DRC bank.
