KCB Group PLC (NASE:KCB)?entered into a definitive agreement to acquire African Banking Corporation Tanzania Ltd. from ABC Holdings Limited on November 25, 2020. The cash consideration represents approximately 0.42 times book value of African Banking Corporation Tanzania Ltd. In a related transaction, KCB Group PLC entered into a definitive agreement to acquire 62.06%?stake in Banque Populaire du Rwanda Plc from Atlas Mara Limited. Aggregate completion consideration that would be payable by KCB Group for acquisition of the 100% of the two entities is estimated at $56.9 million. The Transaction is subject to obtaining shareholder approval, regulatory approvals and other customary conditions precedent, including approvals and consents from the relevant central banks, competition authorities and other counterparties. As of May 28, 2021, KCB Group shareholders have approved proposed acquisition of African Banking Corporation Tanzania. The transaction is expected to?close?during the first half of 2021. As of May 26, 2021, the transaction is expected to close this year. James Kamau, David Lekerai, Adrian Ntwatwa, and Trishala Devani of DLA Piper France LLP acted as legal advisors to KCB Group Plc. KCB Group PLC (NASE:KCB)?cancelled the acquisition of African Banking Corporation Tanzania Ltd. from ABC Holdings Limited on December 02, 2021.