Atlas Mara to Buy Stake in Development Bank of Rwanda Arm
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Atlas Mara Co-Nvest Ltd., the investment firm backed by Robert Diamond, agreed to buy a 77 percent stake in the commercial arm of the Development Bank of Rwanda from the government to expand in East Africa.
Atlas intends to “generate value” in the bank through operational improvements and potentially through acquisitions, it said in a statement today. The purchase price wasn’t disclosed.