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Kenya's Equity Group in talks to buy controlling stake in DRC bank

Kenyan lender Equity Group said on Monday it has entered talks with some shareholders of Banqué Commerciale du Congo (BCDC) shareholders to buy a controlling stake in the Congolese bank, stepping up its Africa expansion.

NAIROBI, Sept 9 (Reuters) - Kenyan lender Equity Group EQTY.NR said on Monday it has entered talks with some shareholders of Banqué Commerciale du Congo (BCDC) shareholders to buy a controlling stake in the Congolese bank, stepping up its Africa expansion.

Equity, which already runs another subsidiary in the DRC, said the talks were likely to result in a cash transaction. It did not identify the BCDC shareholders who are selling.

(Reporting by Duncan Miriri, editing by Louise Heavens)

((duncan.miriri@thomsonreuters.com; Tel: +254 20 4991239; Reuters Messaging: duncan.miriri.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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