Equity Group #ticker:EQTY has acquired an extra seven per cent stake in its Democratic Republic of Congo subsidiary for Sh2.2 billion in cash, underlining its confidence about the unit’s future prospects.
The Nairobi Securities Exchange-listed company first acquired a 79 per cent interest in Pro Credit Bank in September 2015 for Sh4.5 billion in a share swap deal that saw the Kenyan multinational issue 70.8 million units of its stock to investors who were exiting the subsidiary.
