On Friday, Kenya’s Equity Bank announced that Helios will be selling half of its stake to Norway’s Norfininvest AS
The Africa focused investment firm, Helios, currently owns 24.45% of the bank’s shares which it bought in 2007 for more than 11 billion shillings ($120.2 million).
The transaction, which requires regulatory approvals, will involve the sale of 452.9 million shares at an undisclosed price.
According to Reuters, Equity’s shares were trading at 52 Kenyan shillings on Friday, up slightly from the previous day’s close of 51 shillings.
Norfininvest is jointly owned by Norfund, the Norwegian Investment Fund for Developing Countries, and Norfinance AS. Norfinance was established in 2013 alongside four private Norwegian partners to invest in banks and financial institutions in Africa.
