Deals
Diamond’s Atlas Mara Receives Approaches for Africa Assets
- Zenith Bank, Access Bank, Attijariwafa Bank are among suitors
- UBN is Atlas Mara’s biggest investment, among its last assets
Bob Diamond
Photographer: Victor J. Blue/BloombergThis article is for subscribers only.
Atlas Mara Ltd., the pan-African banking group started by Bob Diamond, has drawn interest from Nigerian and Middle Eastern lenders for its remaining assets on the continent, according to people familiar with the matter.
The London-listed group has received a number of approaches for its 49.97% holding in Lagos-based Union Bank of Nigeria Plc, the people said, asking not to be identified as the talks are private. Nigeria’s Zenith Bank Plc and Access Bank Plc are among suitors that have expressed interest, alongside other African rivals such as Morocco’s Attijariwafa Bank, the people said.