Orient Bank breaks silence over 90% stake sale, says Ketan Morjaria will remain minority shareholder and board member

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Orient Bank has broken its silence on the sale of its 90% stake to Kenya’s I&M Holdings PLC. In a statement titled: Update statement on the proposed acquisition of Orient Bank Limited by I&M Holdings PLC, published in local media, the bank states: “On 17th July 2020, the shareholders of Orient Bank limited (the Bank) entered into an agreement with I&M Holdings PLC for the sal