Metropolitan has acquired majority stake in Cannon

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Metropolitan International, the international division of the South African group MMI Holdings, has acquired a majority stake in the Kenyan insurer Cannon.

The shareholders of Cannon will in turn get minority shares in Metropolitan Life Kenya.

The transaction of 27.5 million USD is still awaiting approval of the various entities of market regulation. It will lead to the merger of two insurance companies.

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Wed, 26/02/2014 - 09:38
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