Deals
Bob Diamond’s Atlas Mara Buys Bank in First Africa Purchase
This article is for subscribers only.
Robert Diamond’s Atlas Mara Co-Nvest Ltd. agreed to buy ABC Holdings Ltd. and ADC African Development Corp. for as much as $265 million in the first acquisition by the investment firm of the former Barclays Plc head.
BancABC offers financial services in Botswana, Mozambique, Tanzania, Zambia and Zimbabwe, Atlas Mara, which trades in London, said in a statement late yesterday. ADC, which trades in Frankfurt, owns 47.1 percent of BancABC and 9.1 percent of Union Bank of Nigeria, the company said.