…100 percent ownership if the deal goes through
Fidelity Bank has agreed to take over the United Kingdom unit of Nigeria’s second oldest lender, Union Bank, the former said on Tuesday.
It is the latest phase in the train of divestments by the latter which, beginning late last year, saw Union Bank offload 90 percent of its shareholding to a new owner, Titan Trust.
Fidelity Bank will be acquiring Union Bank UK 100 percent if the deal goes through, according to a binding agreement between the two stated in a regulatory filing published by the Nigerian Exchange.
