Barclays bank former Chief Executive Bob Diamond arrives at Portcullis House to attend a Treasury select committee hearing in Westminster, London July 4, 2012. REUTERS/Luke MacGregor
Africa
Bob Diamond in talks to buy stake in Nigeria’s Union Bank
By Chijioke Ohuocha and Steve Slater
Atlas Mara said in a prospectus published last month for the relisting of its shares in London that it had the option to invest $275 million for "a non-controlling minority stake in a publicly traded African financial institution with operations in Nigeria and certain other countries in West Africa."
It said this week it had extended a deadline on whether to take up the option until Sept. 7.
One of its purchases, ADC African Development Corporation, already owned a 9.1 percent indirect stake in UBN.