NAIROBI (Reuters) – Barclays Africa Group said on Wednesday it had reached a deal to acquire a controlling stake in Kenya’s First Assurance Ltd for 2.8 billion shillings ($28.84 million).
“The planned acquisition of First Assurance is a good strategic fit for our business,” Lanz Zulu, managing executive for Barclays Africa’s Wealth Management and Insurance business, told reporters at a press conference in Nairobi.
($1 = 97.1000 Kenyan shillings)
(Reporting by Duncan Miriri; Writing by Drazen Jorgic; editing by Edmund Blair)
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(Reuters)