Britam Holdings reduces its stake in Equity Group

Britam Holdings, a Kenyan insurance and investment company, is selling part of its stake in Equity Bank Group to an anonymous buyer.

This transaction results in the sale of 22 million shares for nearly 6.7 million USD. Britam's stake in Equity Bank Group thus moves from 11.5% to 7.5%.

Britam made the sale in order to comply with the requirements of the market regulator. Current regulations limit an insurance company's stake in a bank’s capital, to a maximum of 10%.

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