Britam Holdings to sell its stake in Equity Group

Britam Holdings is selling its stake in Equity Group Holdings to the International Finance Corporation (IFC), a member of the World Bank.

The transaction involves the sale of 251.1 million shares at a price of 55 KES (0.5 USD) each. The transaction is valued at a total of 13.9 billion KES (121.85 million USD).

The sale allows Britam Holdings to reduce the volatility of its profits, which is mainly due to equity investments.