Deals
South Africa’s PIC Has ‘Appetite’ for Barclays Africa Stake
- Money manager wants partner with cash to back purchase in bank
- Accelerated bookbuild may leave PIC with ‘significant’ stock
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Public Investment Corp., Africa’s largest money manager, said it’s interested in boosting its holding in Barclays Africa Group Ltd. and is still considering the best partner to team up with for a bid.
“There is appetite from our side to increase our stake,” Chief Executive Officer Dan Matjila said in an interview in Pretoria on Tuesday. “We’re still assessing which is the best partner to go with and the best partner with cash,” he said, adding that the ideal co-investors would be South African, or if international, a partner who backs South Africans.