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Titan Trust to buy Union Bank minority shares
Titan Trust Bank Limited, which already owns a controlling stake in Union Bank, has announced its plans to acquire the shares of minority shareholders in the bank.
The acquisition will be implemented through a Scheme of Arrangement in accordance with the Companies and Allied Matters Act 2020.
The deal will be carried out at a price of N7.00 per share, and regulators, the Central Bank of Nigeria and the Securities & Exchange Commission, have given their approval.
Union Bank has reported strong financial results for 2022, with gross earnings up 19%, net interest income up 33%, and profit before tax up 47%.
source; The Punch
link; https://punchng.com/titan-trust-to-buy-union-bank-minority-shares/
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