Newspaper article International New York Times

Barclays Sells 12.2% Stake in Its African Business

Newspaper article International New York Times

Barclays Sells 12.2% Stake in Its African Business

Article excerpt

The British bank sold a 12.2 percent stake in Barclays Africa Group as it seeks to reduce its holdings in the business to below a controlling level.

Barclays said on Thursday that it had sold a 12.2 percent stake in the Barclays Africa Group for 13.05 billion South African rand.

The British bank is cutting its 62.3 percent stake in the African business to free itself from regulatory and capital requirements that have dragged on its balance sheet. The deal is worth about $882 million.

Barclays, which has operated in Africa for more than a century, said on Wednesday that it would make its first sale of its stake in the African business after announcing plans in March to do so. The bank would like to reduce its holdings to below a controlling level, or to sell the stake entirely. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.