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Helios to sell half its stake in Kenya's Equity Bank

17 January 2015, 08:02

Nairobi -  Africa focused investment firm Helios will sell half its stake in Kenyan lender Equity Bank, or 12.22 percent of the bank's shares, to Norway's Norfininvest AS, the lender said on Friday.

The transaction, which requires regulatory approvals, will involve the sale of 452.9 million shares at an undisclosed price.

Equity's shares were trading at 52 Kenyan shillings on Friday, up slightly from the previous day's close of 51 shillings.

Read Also: Cofek calls for further drop in fuel prices

Norfininvest is jointly owned by Norfund, the Norwegian Investment Fund for Developing Countries, and Norfinance AS. Norfinance was established in 2013 alongside four private Norwegian partners to invest in banks and financial institutions in Africa.

Helios bought a 24.45 percent stake in Equity in 2007 for more than 11 billion shillings.

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- Reuters


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