{"id":114794,"date":"2015-05-08T17:55:18","date_gmt":"2015-05-08T17:55:18","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=114794"},"modified":"2015-05-08T17:55:18","modified_gmt":"2015-05-08T17:55:18","slug":"republic-bank-secures-over-57-percent-stake-in-hfc-bank","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2015\/05\/republic-bank-secures-over-57-percent-stake-in-hfc-bank\/","title":{"rendered":"Republic bank secures over 57 percent stake in HFC bank"},"content":{"rendered":"
Republic bank has secured more than enough shares to gain controlling interest in local bank HFC.<\/p>\n
[contextly_sidebar id=”dAiakhI6SlKzlYkmD93sChtU77ksmfga”]Republic bank was seeking to gain at least 51 percent stake in HFC bank.<\/p>\n
However Citi Business News has learnt Republic bank now owns about 57 percent stake in HFC bank.<\/p>\n
Sale of shares<\/strong> Cocobod which has 5.6 percent stake in the bank sold its shares while individual shareholder Kwame Addo with 6.8 percent stake in the bank also sold his stake.<\/p>\n
\nSources familiar with the matter tell Citi Business News the bank managed to secure about 57 percent stake after both private and state run companies as well as individual shareholders gave up their shares in the bank.<\/p>\n