JOHANNESBURG, July 22 (Reuters) - South Africa's Absa Group has received the regulatory approval to acquireBarclays Plc's African operations, clearing the finalhurdle in the deal worth 18.3 billion rand ($1.9 billion).
Under the deal, Barclays will relinquish ownership of itsAfrican operations to Absa in exchange of a 62.3 percentshareholding of South Africa's third-largest lender.
Banking regulators in nine countries, including in Botswanaand Kenya where Barclays has local listings, have given the dealthe nod, Absa said in a statement. The transaction excludesBarclays' businesses in Egypt and Zimbabwe due to volatilepolitics in those countries.
Barclays (BARC)
