I&M to acquire 65pc of Burbidge Capital

I&M Holdings has announced plans to acquire 65 per cent of Burbidge Capital Limited.

Burbidge Capital is a corporate finance advisory firm based in Kenya and Uganda with a focus on large and mid-sized companies in the region.

READ: I&M in deal to acquire Giro Bank

“Shareholders of I&M Limited are advised that the company has on October 15, 2015 entered into an agreement with the shareholders of Burbidge Capital for the sale and purchase of shares comprising 65 per cent of issued share capital of Burbidge Capital,” I&M said in a statement to the bourse.

I&M Holdings had in September also announced plans to buy Giro Commercial Bank.

The transaction is subject to approval by the central bank, the Capital Markets Authority, the Competition Authority of Kenya.

Burbidge has offices in Kenya, Uganda and the United Kingdom.