JOHANNESBURG, July 22 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.