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Kenya's HF Group transfers investment unit to another subsidiary

Kenyan mortgage lender HF Group PLC is transferring the business, various investments and liabilities of its unit HF Development and Investment Ltd. to HFC Ltd., another of its subsidiaries, the group said in a regulatory notice.

HF Group said it has initiated an internal corporate restructuring involving the two aforementioned units and advised the company's shareholders and prospective investors to "exercise caution while dealing in the securities of the company."

The move is aimed at strengthening the group's core activities in line with its current strategy, according to the filing.