Atlas Mara Acquires Two Pan-African Banking Groups


News: Atlas Mara Co-Nvest has signed agreements to purchase pan-African banking groups ABC Holdings and ADC African Development Corporation for up to US$265mn. Atlas Mara will purchase a majority of ABC Holdings, which operates under BancABC brand. Under the acquisition deal with ADC, Atlas Mara will place a voluntary public takeover offer for all outstanding shares of ADC. The transactions, which are subject to certain conditions and regulatory approval, are scheduled to be completed by August 31 2014.

This article is tagged to:
Geography: Africa, Oman