CDC Group plc entered into an agreement to acquire 10.68% stake in I&M Holdings Limited (NASE:I&M.O) from PROPARCO SA and Deutsche Investitions- und Entwicklungsgesellschaft mbH on April 14, 2016. Completion of the transaction is subject to several conditions, including receipt of all regulatory approvals from the Central Bank of Kenya, Bank of Tanzania, the Capital Markets Authority, the Competition Authority of Kenya, the Fair Competition Commission in Tanzania and the Comesa Competition Commission. The transaction may have a material effect on the value of the shares of I&M Holdings Limited.

Nigel Wellings, Shimin Lee and Daniel Mutisya of Clifford Chance LLP acted as legal advisors for CDC Group.