His Excellency Ali Jasim Ahmed, General Manager of Umm Al Quwain Broadcasting Network (UBN
) commented: "We are proud to hold the partnership with Zee Entertainment, the leading global company in the media industry with a strong presence in the UAE and across Middle East.
This transaction will bring Atlas Mara's total holding in UBN
to 29.9%, including the stake it already owns indirectly through its subsidiary ADC African Development Corporation AG (ADC).
2 September 2011 - Shareholders of Union Bank of Nigeria (NIG:UBN), or UBN
, will convene at the end of the current month to vote on an agreement with its major investor, African Capital Alliance Consortium, Bloomberg said today, citing an emailed statement from the bank.
A household presents an UBN
in this dimension if any of the following two conditions are verified:
The Securities and Exchange Commission (SEC) has asked Union Bank of Nigeria Plc (UBN
) to return money to investors after its recent rights issue failed to pass the required threshold.
Nigeria-based Union Bank (UBN
.LG), which was one of the banks rescued by the central bank last year, is discussing a recapitalisation plan with a core investor.
Intercontinental Bank Plc (INTERCON), Union Bank Nigeria Plc (UBN
) and Finbank Plc (FIRSTINL) will benefit from the move, which was initiated after the lenders signed transaction agreements with new investors.
Nigeria's Union Bank (UBN
.LG), which was among several banks rescued in a USD4bn bailout in 2009, has said that it will complete the recapitalisation of the bank before the central bank's September deadline and will sign the final agreements with its core investors, Reuters has reported.