South Africa's Absa receives final nod for Barclays deal
JOHANNESBURG, July 22
JOHANNESBURG, July 22 (Reuters) - South Africa's Absa Group has received the regulatory approval to acquire Barclays Plc's African operations, clearing the final hurdle in the deal worth 18.3 billion rand ($1.9 billion).
Under the deal, Barclays will relinquish ownership of its African operations to Absa in exchange of a 62.3 percent shareholding of South Africa's third-largest lender.
Banking regulators in nine countries, including in Botswana and Kenya where Barclays has local listings, have given the deal the nod, Absa said in a statement. The transaction excludes Barclays' businesses in Egypt and Zimbabwe due to volatile politics in those countries.
- U.S.'s Kerry expresses regret to India over diplomat case |
- Mega Millions winners in Georgia, California to split $648 million |
- China confirms near miss with U.S. ship in South China Sea
- Washington, DC city council raises minimum wage to $11.50/hr in 2016
- Target stores' customers hit by major credit card attack