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- Title
German Group's Bank Stakes.
- Abstract
The article reports that Germany-based African Development Corp. has acquired a 25 percent stake equivalent to 1,750,005 shares worth U.S.$8-million in Rwanda Development Bank (BRD). Each BRD share was sold at $4.59, which represents an increase in the bank's share capital from $9.2 million to about $12.7 million. This paved the way to the strengthening of the bank's financial power so as to accomplish its goals by investing in long-term ventures. The new arrangement has left the Rwandan government's trimmed from 48.12 percent to 20.62 percent.
- Subjects
GERMANY; RWANDA; AFRICAN Development Co.; RWANDA Development Bank (Company); BANK mergers; MERGERS &; acquisitions; BANKING industry; FINANCIAL services industry; STOCKS (Finance)
- Publication
Africa Research Bulletin: Economic, Financial & Technical Series, 2008, Vol 45, Issue 4, p17817
- ISSN
2053-227X
- Publication type
Article