Atlas Mara Boosts Stake in Union Bank of Nigeria to 48%

Shareholding in Union Bank of Nigeria increases to 48% from 44%, London-listed Atlas Mara says in statement.

* Atlas Mara fully subscribed to Union Bank’s rights issue and acquired additional shares representing a 3.5% shareholding at a combined cost of $75 million;
* “We are very pleased to have increased our stake in UBN at a time when leading indicators for Nigeria’s macroeconomic performance continue to show improvement,” Bob Diamond, chairman of Atlas Mara and former CEO of Barclays, says in statement;
* NOTE: Link to Statement: Atlas Mara Limited ATMA Statement re Atlas Mara Increases Stake in UBN. Source: Bloomberg