THE Competition and Tariff Commission (CTC) says it is commencing an investigation into the proposed acquisition of additional shareholding in First Mutual Holdings (FML) by CBZ Holdings.
Notification of the proposed transaction was done in compliance with one of the commission’s conditions set out in the order approving the acquisition of 31,22 percent shareholding by CBZ in FML in 2022.
The merger was approved on condition that CBZ shall notify the commission of any intention to increase its stake in FML.