Fidelity Bank Plc to Acquire Union Bank UK

August 30, 2022

Fidelity Bank Plc has entered into a binding agreement to acquire 100% of Union Bank United Kingdom Limited (Union Bank UK), subject to approval from the UK Prudential Regulation Authority. The Central Bank of Nigeria has issued a letter of no objection; the deal represents Fidelity's first international expansion to broaden its trade and diaspora banking services.

Buyers
Fidelity Bank Plc
Targets
Union Bank United Kingdom Limited (Union Bank UK PLC)
Sellers
Union Bank of Nigeria Plc
Location
United Kingdom
Transaction Type
Buyout

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