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BRIEF-Atlas Mara to acquire African Bank ABC and ADC African Development Corp
March 31, 2014 / 6:01 PM / 3 years ago

BRIEF-Atlas Mara to acquire African Bank ABC and ADC African Development Corp

March 31 (Reuters) - Atlas Mara Co-Nvest Ltd :

* Atlas Mara Co-Nvest Limited to acquire sub-saharan African Bank ABC Holdings Limited and ADC African Development Corporation AG for up to approximately $265 million

* Following completion of deal, provide up to $100 million of equity to Bancabc, to drive its growth going forward, as well as support Bancabc’s management in obtaining additional liquidity, including raising tier II capital

* Atlas Mara intends to seek re-admission to listing on official list, trading on LSE under existing Atlas Mara name and ticker, ATMA.

* Transactions are expected to be funded through proceeds of Atlas Mara’s previously completed IPO and issuance of Atlas Mara shares Source text for Eikon: Further company coverage:

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