Mauritius Commercial Bank Plans to Buy All Fincorp Shares, Express Reports

Mauritius Commercial Bank (MCB) aims to re-acquire all the shares in Fincorp Investment Co., in which it owns a 54 percent stake, l’Express reported, without saying where it got the information.

Fincorp, which owns Finlease and has direct and indirect stakes in Promotion & Development Ltd. (PADFP) and Caudan Development (CAUDAN), has advanced more than 26 percent since March 17, the Port Louis-based newspaper said.

“We don’t comment on speculation or rumors,” Mauritius Commercial Bank said in an e-mailed response to questions today. “We communicate officially to the market as and when required and there is no such communication in respect of Fincorp.”

To contact the reporter on this story: Kamlesh Bhuckory in Port Louis via Johannesburg at 1933 or gbell16@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

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