Diamond’s Atlas Mara Agrees to Buy Zambian Bank for Cash, Shrs

 In news

Financial services firm co-founded by former CEO of Barclays, Bob Diamond, has reached agreement to buy 100% of Finance Bank of Zambia, Atlas Mara says in statement.

* Atlas Mara will acquire FBZ for approximately $60m in cash and 2.6m Atlas Mara shrs, valued at $15.6m at Friday’s close;
* Deal expected to be completed in 1Q 2016;
* Combination of FBZ with Atlas Mara’s Zambian unit ABC Zambia will create Zambia’s largest bank by branch network and 5th largest bank by assets with combined assets of ~$418m;
* NOTE: Diamond’s Atlas Mara Announces Buyback, Nears Zambian Deal. Source: Bloomberg

Recent Posts
Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.

Not readable? Change text.

Start typing and press Enter to search