Business News

CIT to Acquire OneWest Bank for $3.4 Billion in Cash and Stock

Press Release Acquisition Advances CIT’s Bank Strategy Transaction Is Immediately Accretive to CIT’s Earnings Per Share Improves ROTCE and Accelerates Use of Net Operating Losses (NOL) CIT’s Total Assets Will Increase to $67 Billion; Total Deposits Will Increase to $28 Billion1 Combines CIT’s National Lending Platform with OneWest’s Regional Branch […]

Airtel Targets 30 million Nigerian Subscribers by 2014 End

By Yakubu LAAH InvestAdvocateLagos (INVESTADVOCATE)-Indian largest telecoms firm, Bharti Airtel Limited has said it’s targeting 30 million subscribers by the end of 2014 according to Segun Ogunsanya chief executive officer (CEO) of its Nigerian unit, Airtel Nigeria. According to a report from Bloomberg, the projected 30 million customers is about […]

Emerging Capital to Divest Stake in Nigeria’s Continental Re

By Yakubu LAAH InvestAdvocateLagos (INVESTADVOCATE)-Washington based private-equity firm, Emerging Capital Partners is set to divest its stake in Nigeria’s reinsurance company, Continental Reinsurance Plc. This is contained in a notice to the Nigerian Stock Exchange (NSE) by Continental Re and made available to InvestAdvocate in Lagos Nigeria.According to the notice, […]