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Fidelity Acquisition: Union Bank UK not Part of Titan Trust’s Deal with Union Bank Nigeria – THISDAYLIVE

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Contrary to reports in some sections of the online media, Union Bank UK which Fidelity Bank Plc announced that it has reached an agreement to acquire, is not part of Union Bank of Nigeria Plc recently

acquired by Titan Trust Bank Limited.

The deal, regarded as one of the largest acquisition deals in the history of Nigeria’s banking industry, with an off-market deal worth N191 billion, has since positioned the lender to compete with other long-standing and well-rooted Nigerian banks.Findings however reveal that the ownership transfer excludes Union Bank UK, a former subsidiary of Union Bank of Nigeria Plc.

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