One of the oldest lending banks in Nigeria, Union Bank is set to loose its ownership to the Fidelity Bank.

Fidelity Bank on Tuesday revealed it had agreed to take over the United Kingdom unit, Union Bank.

It is the latest phase in the train of divestments by the latter which, beginning late last year, saw Union Bank offload 90 per cent of its shareholding to a new owner, Titan Trust.

Fidelity Bank will be acquiring Union Bank UK 100 per cent if the deal goes through, according to a binding agreement between the two stated in a regulatory filing published by the Nigerian Exchange and seen by PREMIUM TIMES.

Details Later…..