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.
Tuesday, 4 March 2008
Darren Olivier
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