Under the deal which shareholders approved yesterday during an extraordinary general meeting held in
"When we made the agreement the price per share was at Sh11.93 it is now at Sh19...they stand to make a windfall," BRITAM group MD Benson Wairegi said yesterday.
Britam will pay Sh1.38 billion for the 60 per cent stake and the remainder will be paid in form of 39 per cent shares to owners of
Real had assets valued at Sh4 billion as at first half 2013 and with its acquisition, Britam said it will achieve number two position in the market with a share of 10 per cent up from current 7.6 per cent.
Under the deal, Britam will also acquire 55 per cent of
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