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FirstRand talks for Merchant Bank Ghana fall through
July 12, 2013 / 3:31 PM / in 4 years

FirstRand talks for Merchant Bank Ghana fall through

ACCRA, July 12 (Reuters) - FirstRand’s bid to acquire a stake in Merchant Bank Ghana were unsuccessful, a key shareholder of the Ghanaian bank said on Friday, setting back plans by South Africa’s second-largest lender for a retail operation in oil-rich west Africa.

Last year, FirstRand said it had offered $91 million for a 75 percent stake in the medium-sized retail and commercial bank.

Reporting by Kwasi Kpodo; Writing by Helen Nyambura-Mwaura; Editing by Jon Herskovitz

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