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AstroBank Grows by 55% by Acquiring the Banking Business of USB Bank
August 7, 2018
In conformity with its growth strategy, AstroBank Limited has announced that it has signed an agreement with USB Bank PLC to acquire the banking business including the staff of USB, excluding only certain assets. The agreement is expected to be completed before the end of the year following the necessary approvals from the regulatory authorities and completion of other formalities. The transaction will be financed from own resources and supported by a capital raise, primarily from AstroBank’s existing shareholders, currently at its final stages of completion.