Browsing: Equity back acquires Banque Commerciale Du Congo (BCDC)

Equity Group secures a discount on buying Congolese Bank

Equity Group Holdings Plc has completed the acquisition of a majority stake in the Congolese lender Banque Commerciale Du Congo (BCDC) at a discounted price of $95 million after getting a 10 per cent discount.

Last year September, Equity bank announced it had agreed with the George Arthur Forrest and family a major shareholder to acquire all its 625,354 shares which is 66.53 per cent owned by the Belgian entrepreneur at a cost of $105 million with the dividend price per share of $167.9.

In a bank’s statement, it said the takeover is now complete making it the second-largest commercial bank in the Democratic Republic of Congo (DRC).

George Arthur Forrest and family was the majority shareholder owning 66.53 per cent, the government of the Democratic Republic of Congo (25.53 per cent), while the remaining 7.94 per cent shares are owned by other minority shareholders.

Equity Bank has more than …