Kenya's Equity Bank acquires Cogebank of Rwanda

NAIROBI, June 14 (Xinhua) -- Kenya's Equity Bank on Wednesday announced that it has entered into a binding agreement to acquire 91.93 percent of the issued share capital of Compagnie Generale de Banque (Cogebanque), also known as Cogebank, which is a commercial bank of Rwanda.

Equity Bank Group said that it will pay an aggregate cash consideration of 6.7 billion shillings (about 48.1 million U.S. dollars) for the controlling equity stake.