Deals
South Africa Group Said to Seek 10% Stake in Barclays Africa
- Public Investment Corp. said to be among investors for stake
- Investors want to negotiate a discount on bank's shares
This article is for subscribers only.
A group of South African investors plan to make an offer for 10 percent of the shares in Barclays Africa Group Ltd., a person familiar with the matter said.
The consortium, which includes the Public Investment Corp., Africa’s biggest money manager, is set to meet Barclays Plc next week, said the person, who asked not to be identified because the talks are private. The investors will push for a discount to Barclays Africa’s current share price as the divestment of a large number of shares coincides with a deterioration in South Africa’s economy, the person said.