Barclays to combine African operations with Absa

BARCLAYS Plc yesterday announced that it has agreed with its subsidiary Absa Group Ltd to combine majority of Barclays Africa operations for a consideration of around 129,54 million Absa ordinary shares, representing a value of 18,33 billion South African Rand or £1,3 billion.

Report by rttnews.com

The deal will increase the British lender’s stake in Absa to 62,3% from 55,5%.

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