Fidelity Bank said on Tuesday that it has agreed to take over the United Kingdom branch of Union Bank, one of Nigeria’s oldest lender,
It was learnt that the deal is the latest phase in the train of divestments by the Union Bank which, beginning late last year. The initial stage saw Union Bank offload 90 per cent of its shareholding to a new owner, Titan Trust.
Fidelity Bank will be acquiring Union Bank UK 100 per cent if the deal goes through, according to a binding agreement between the two, published by the Nigerian Exchange.
More details shortly…
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