How the new bank 89.39 percent shares of Union Bank + What depositors should know
Titan Trust Bank Limited (TTB), a new financial service providers in Nigeria, has acquired Union Bank of Nigeria Plc.
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Platforms Africa reports that this followed an agreement by Union Global Partners Limited, Atlas Mara Limited and other majority shareholders to divest 88.39 per cent shareholding in Union Bank to Titan Trust Bank.
The board of Union Bank of Nigeria Plc in a notification to the Nigerian Exchange Limited (NGX) and the Securities Exchange Commission on Thursday, explained that the agreement, which is subject to regulatory approvals and other financial conditions, would upon completion transfer 89.39 percent of Union Bank’s issued share capital to Titan Trust Bank.
