7th Apr 2014 06:34
LONDON (Alliance News) - Atlas Mara Co-Nvest Ltd, the investment firm listed on the London Stock Exchange by former Barclays PLC Chief Executive Bob Diamond, has announced its second acquisition of an African bank in as many weeks, the Financial Times reported.
The FT said Atlas Mara announced on Sunday an agreement to buy a controlling stake in the Development Bank of Rwanda for USD265 million. The newspaper said the firm will buy the 77% stake from the government of Rwanda, splitting the bank into a government-owned development bank and a commercial bank controlled by Atlas Mara, after a privisation later this year.
Last Monday, Atlas Mara said it had agreed to acquire a majority stake in Botswana-based ABC Holdings Ltd and ADC African Development Corporation AG for up to USD265 million in cash and shares.
http://www.ft.com/cms/s/0/2f482384-bda7-11e3-83e5-00144feabdc0.html?siteedition=uk#axzz2yBA9jCna
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