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Atlas Mara proposes first acquisitions

Mon, 31st Mar 2014 11:33

Atlas Mara, the African banking company co-founded by former Barclays boss Bob Diamond, has agreed its first two acquisitions. Diamond and co-founder Ashish Thakkar have signed agreements to acquire a majority of BancABC and ADC African Development Corporation for $265m in cash and Atlas Mara shares.BancABC is a multi-service bank with operations across Botswana, Mozambique, Tanzania, Zambia and Zimbabwe, also known as the Southern African development community, the largest trading bloc in Africa.ADC is a Frankfurt-based, open market listed, Africa-focused, emerging pan-African banking group. It has an indirect 47.1% stake in BancABC.Atlas Mara has entered into an agreement with ADC African Development Corporation to make a voluntary public takeover offer, via an exchange offer, for all outstanding ADC shares. Diamond said: "When we founded Atlas Mara, we did so with the intention of identifying and partnering with exceptional multi-country African financial services companies. "Our objective is to build Africa's premier financial services group leveraging the access to capital, liquidity and funding that we at Atlas Mara can provide. I am delighted that we will be merging with such high quality organisations as BancABC and ADC." "Our future growth will be based on expanding on Dirk Harbecke's vision at ADC and on the foundation created by Douglas Munatsi and his team at BancABC, who have built a fast-growing, prudently-managed, African banking institution."OH
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5 Sep 2014 07:28

Atlas Mara Ups Union Bank Of Nigeria Stake To 29.9% For USD270 Million

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5 Sep 2014 07:17

UK MORNING BRIEFING: BP Shares Open Lower On US Fine Threat

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15 Aug 2014 10:39

Bob Diamond's Atlas Mara Reports USD17.3 Million Loss

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3 Jul 2014 17:28

Atlas Mara Subsidiary Launches ADV African Developments Public Share-For-Share Offer

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13 Jun 2014 15:24

PRESS: Atlas Mara To Miss Latest Fundraising Target - FT

LONDON (Alliance News) - Bob Diamond's Atlas Mara cash shell has failed to secure the additional USD400 million he was targeting for his African venture after some investors balked at the second fundraising in six months, the Financial Times reports Friday, citing two people familiar with the sit

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23 May 2014 10:01

MARKET COMMENT: Go-Ahead Rallies On New Contact, But UK Indices Mixed

LONDON (Alliance News) - UK stocks are trading mixed Friday with investors finding little reason to significantly add to positions at the end of a relatively muted week for equity trading and ahead of a long weekend, although there are some notable individual movers. By mid-morning Friday t

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23 May 2014 07:54

Diamond's Atlas Mara To Acquire Commercial Arm Of Rwandan Bank

LONDON (Alliance News) - Atlas Mara Co-Nvest Ltd, the investment firm co-founded by former Barclays PLC Chief Executive Bob Diamond, Friday said it has agreed to acquire the government of Rwanda's 77% stake in the commercial arm of the Development Bank of Rwanda. The news comes after Atlas

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23 May 2014 07:34

UK MORNING BRIEFING: Smiths Group And Tullow Oil Drag On FTSE 100

LONDON (Alliance News) - UK shares have opened mixed Friday, with mid- and small caps posting small gains while the FTSE 100 has started lower.

Smiths Group and Tullow Oil are depressing the blue-chip index, as Smiths warned about the results of one

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15 May 2014 15:14

Atlas Mara Says Proceeds From IPO Easily Accessible When Required

LONDON (Alliance News) - Atlas Mara Co-Nvest Ltd, which raised USD325.0 million in an initial public offering in December, said Thursday the net proceeds from its IPO are easily accessible when required. In an interim management statement for the period November 28 to March 31, the company

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14 May 2014 11:38

Atlas Mara confirms 400m dollar fundraising

Atlas Mara Co-Nvest, the Africa-focused banking investor founded by ex-Barclays boss Bob Diamond, confirmed late on Tuesday that it planned to raise a gross 400m dollars in a private placement. The London-listed company said it it intended to sell 36.5m new shares at $11 per share to institutional

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14 May 2014 07:29

UK MORNING BRIEFING: ITV Weighs On FTSE 100 Despite Strong Revenue

LONDON (Alliance News) - Share have opened mixed in London Wednesday, with the FTSE 100 underperforming small- and mid-cap indices, ahead of UK economic data and announcements by the Bank of England.

The blue-chip index is being weighed down by broadcaster ITV, whos

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13 May 2014 17:36

Atlas Mara Plans Placing To Raise USD400 Million

LONDON (Alliance News) - Atlas Mara Co-Nvest Ltd Tuesday said it plans to privately place 36.5 million shares at an issue price of USD11.00 per share to raise roughly USD400 million. The investment company said it plans to use the proceeds to support the growth of its ABC Holdings Ltd inves

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13 May 2014 15:25

Atlas Mara plans major fundraising

Atlas Mara, the Africa-focused banking investor founded by Bob Diamond, has begun working on a new capital raising to continue its acquisitive spree. Co-founded by ex-Barclays chief Diamond and Ugandan financier Ashish Thakkar, Atlas Mara acquired Botswana-based BancABC for $265m in cash and share

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8 Apr 2014 11:14

Diamond's Atlas Mara Poaches New Chief Executive From Barclays

LONDON (Alliance News) - Bob Diamond, the former Chief Executive of Barclays PLC, has turned to his old stomping ground in order recruit the new leader of Atlas Mara Co-Nvest Ltd, the investment company he co-founded to make financial services acquisitions in Africa. In a statement, Tuesday

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8 Apr 2014 10:34

TOP NEWS: Sports Direct Founder Sells 4% Stake For GBP204 Million

LONDON (Alliance News) - The following is a summary of top news stories Tuesday.
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COMPANIES
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Sports Direct International PLC said Mike Ashley, its founder and deputy chairman, sold 24 million ordinary shares, representin

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