Commercial Bank of Zimbabwe (CBZ)’s planned acquisition of ZB Holdings is currently before the Competition and Tariff Commission.
The move comes at the time CBZ is also acquiring First Mutual Life FML Holdings.
CTC approved three mergers in the fourth quarter of 2022, including the acquisition by CBZ Holdings (CBZ) of a majority interest in First Mutual Holdings Limited (FMHL) and OK Zimbabwe swoop for Food Lovers Market.
Zimbabwe Stock Exchange-listed financial services provider, CBZ, said the transaction was designed to create a pan – African bank starting with the merger with FMHL.
CBZ acquired 31,22 percent of FMHL from NSSA and according to the terms of the contract, the consideration being a blend of cash and a share swap under a 30/70 ratio.
The rationale behind the share swap was to leverage CBZ’s strong share price on the Zimbabwe Stock Exchange and use it as currency for this transaction.
Zwnews
Kaizer Chiefs coach Cedric Kaze has urged patience and composure after the club’s poor run… Read More
Kaizer Chiefs have suffered a major setback with two experienced players injured. Both Brandon Petersen… Read More
Premier Soccer League giants Kaizer Chiefs have reportedly set their sights on Nigeria international goalkeeper… Read More
Kaizer Chiefs’ preparations for the Soweto Derby were severely disrupted before kick-off, a reality that… Read More
Kaizer Chiefs registered a second successive victory in the CAF Confederation Cup group stages after… Read More
Across Africa, vehicle buyers and importers are discovering a new way to connect — through … Read More