Daily Nation ­ Thursday
Date: 03.04.2014
Page 36
Article size: 28 cm2
ColumnCM: 6.22
AVE: 12755.55
Old Mutual gets large
stake in Faulu Bank
Old Mutual has finalised the
acquisition of a controlling stake
in Kenya's second largest micro­
finance institution Faulu Bank.
The company said in a statement
yesterday that it has paid Sh2.8
biiiion out of the agreed price of
Sh3.<5 billion for acquisition of
67 per cent of Faulu after it got
the green light by all approving
authorities in Kenya and South
Africa. "I would like to commend
the teams for demonstrating pa­
tience and diligence throughout
this long but necessary process"
said Old Mutual managing direc­
tor Johannes Gawaxab.
Ipsos Kenya ­ Acorn House,97 James Gichuru Road ­ Lavington ­ Nairobi ­ Kenya