Out of 60 sectors in the Mergr database, financial services ranked 7 in number of deals in 2006. The largest financial services acquisition in 2006 was Golden West Financial - which was acquired by Wachovia for $25.5B.
Join Mergr to view all 140 acquisitions of financial services companies in 2006, including 55 acquisitions by private equity firms, and 85 by strategics.
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The commercial Bank of Africa Kenya (BOAK) is part of a larger West African Banking Group that is seeking diversification in East Africa. BOAK is based in Kenya, and has a presence in Uganda, Tanzania, Burundi and the Democratic Republic of Congo. The West African Banking Group entered the East African banking market in July 2004 through the acquisition of a subsidiary of Credit Agricole Indosuez, creating BOAK. Bank of Africa Kenya, alongside The Abraaj Group and other investors, then acquired two subsidiaries of Belgolaise Bank (a subsidiary of Fortis Bank) in Uganda and Tanzania.
Bank of Africa Kenya was acquired by The Abraaj Group on December 1, 2006.
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