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DTB buys Habib Bank for Sh1.8bn in share swap deal

A customer at a Diamond Trust Bank (DTB) ATM machine at Garden City Mall on Nairobi, March 21, 2016. FILE PHOTO | NMG

By  BRIAN NGUGI

Diamond Trust Bank (DTB) is set to acquire Habib Bank Limited for Sh1.8 billion, using its own shares to compensate owners of the small lender.

Habib investors, who already own 11.97 per cent of DTB, have been offered a 4.75 per cent stake in the Nairobi Securities Exchange-listed firm.

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