Nedbank Group offers 13.9 billion rand for majority stake in Kenya NCBA Group
South African lender Nedbank Group has launched a cash and stock offer for a 66 percent stake in NCBA Group. The deal marks a major expansion into East Africa.
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Nedbank Group from South Africa 
ZAhas announced a cash and stock offer to acquire a 66 percent stake in NCBA Group of Kenya 
KEfor 13.9 billion rand. This proposal is equivalent to approximately $855.5 million and is structured to include 20 percent in cash with the remaining 80 percent consisting of new Nedbank ordinary shares. The offer calculations are based on a price of 250 rand per share for the South African lender.
ZAhas announced a cash and stock offer to acquire a 66 percent stake in NCBA Group of Kenya KEfor 13.9 billion rand. This proposal is equivalent to approximately $855.5 million and is structured to include 20 percent in cash with the remaining 80 percent consisting of new Nedbank ordinary shares. The offer calculations are based on a price of 250 rand per share for the South African lender.If the transaction is completed, the remaining 34 percent of NCBA Groupshares will continue to trade publicly on the Nairobi Securities Exchange. The banking group would become a subsidiary of Nedbank Groupwhile retaining its current brand name and existing local leadership. Furthermore, the entity would maintain its separate listing on the Kenyan market rather than being fully absorbed and delisted by the parent group.
