Tuesday, 4 March 2008

Standard Bank ICBC deal completed

The JSE news service reports that Standard Bank Group has announced that the transaction in terms of which the Industrial and Commercial Bank of China Limited ("ICBC") was to acquire a 20% stake in Standard Bank Group has been completed.The equity investment is the largest foreign direct investment into South Africa and is a landmark transaction for Africa, according to this AllAfrica report. For other Afro-IP posts on Standard Bank click here.

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