Liberty gets final nod for CfCIH stake

2011-02-28 17:58

Johannesburg - Financial services group Liberty Holdings [JSE:LBH] announced on Monday that all outstanding conditions relating to its stake in Kenyan wealth company CfCIH have been approved.

Liberty will increase its shareholding in CfCIH to 56.82% immediately following the distribution in specie by CfC Stanbic Holdings of its shareholding in CfCIH. Trading of CfCIH shares on the Nairobi Stock Exchange will commence immediately thereafter.

Accordingly the renunciation agreement had been extended between the parties to April 30 to allow the listing process to be completed.

CfCIH comprises life, general and health insurance businesses in Kenya and Tanzania.