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Barclays will sell 22% of its shares in Barclays Africa

Barclays has announced[1] its intention to sell 187 million ordinary shares in Barclays Africa Group, which represents approximately 22% of Barclays Africa’s issued share capital. Barclays Africa owns local bank ABSA. “This follows receipt of the required regulatory approvals for Barclays to reduce its shareholding in Barclays Africa to below 50%,” said the company.

Barclays announced on 1 March 2016 that it intended, over a two to three year period, to reduce its shareholding in Barclays Africa.

“On 5 May 2016, Barclays sold 103.6 million shares in Barclays Africa, reducing its shareholding to 50.1%.”

“This transaction marks the next phase of Barclays Africa’s evolution as a standalone pan-African financial services group, committed to Africa,” said Maria Ramos, Barclays Africa CEO.

Now read: Old Mutual security breach[2]

References

  1. ^ has announced (www.absa.co.za)
  2. ^ Old Mutual security breach (mybroadband.co.za)

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