UK’s Commonwealth Development Corporation (CDC) Group has identified the buyer for its 9.97 per cent shares in Dfcu bank. 

CDC has been looking for a buyer for a long time. 

The Tower Post has gathered that a Danish Finance institution has expressed interest interest in acquiring the 9.97 shares in dfcu bank.

The institution is called IFU- Denmark, the Danish Development Finance Institution/ Investment Fund for Developing Countries.

dfcu notified its shareholders and potential investors about the transaction in the offing through a letter dated December 13.

“Dfcu limited…advises its shareholders and the general public that a significant minority shareholder has received and accepted an expression of interest for the purchase of its shareholding in the Company by another,” Dfcu said in a recent cautionary announcement,” Dfcu said in the statement.

The  transaction, however remains subject to obtainment of regulatory approvals and satisfaction of all conditions precedent.

“Shareholders and potential investors are advised to exercise caution when dealing in the Company’s shares until a further announcement is made,” reads the letter.