Lagos - Unity Bank Plc is divesting its 50% equity stake in UnityKapital Assurance Plc. The bank is the major shareholder in the insurance firm.
The banks' divestment is in compliance with the directive of the Central Bank of Nigeria (CBN) that all deposit money banks should divest from non-banking subsidiaries or adopt a holding company structure in the new licensing regime, reports Proshare.
The bank has appointed Capital Assests as Financial Advisers in the divestment plan A “Request for Expression of Interest (EOI)” for the sale of the bank’s equity stake in insurance firm is ready for publication.
Read more at Proshare