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Exim Bank (Tanzania) to acquire local unit of Pakistan-based United Bank

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Exim Bank (Tanzania) to acquire local unit of Pakistan-based United Bank

Exim Bank (Tanzania) Ltd. has made an offer and signed a letter of intent to acquire 100% of Pakistan-based United Bank Ltd. unit UBL Bank (Tanzania) Ltd.'s assets and liabilities.

The deal is subject to a number of regulatory approvals in both Tanzania and Pakistan, and is expected to complete around midyear.