ABUJA (Reuters) – Nigeria’s Union Bank, which is in the process of being taken over by newly established rival Titan Trust Bank, plans to sell its British subsidiary to existing investors, it said on Tuesday.
The mid-tier lender said it will seek a shareholder vote on March 29 for the sale and to appoint advisers on the transaction.
It said in December its core investors Union Global Partners, Atlas Mara and other shareholders planned to sell a 89.4% stake in the lender to Titan Trust Bank.
(Reporting by Chijioke Ohuocha; Editing by Jan Harvey)
