Inactive Instrument

Atlas Mara Limited London S.E.

ATMA

VGG0697K1066

Atlas Mara : Bob Diamond's Africa bank ups stake in Union Bank of Nigeria

June 21, 2017 at 02:52 am EDT

LONDON (Reuters) - Atlas Mara Ltd, the African investment vehicle of former Barclays boss Bob Diamond, said on Wednesday that it plans to raise $200 million to increase its stake in Union Bank of Nigeria and to scale up other businesses.

Atlas Mara said it was buying a 13.4 percent stake in the Union Bank of Nigeria from Clermont Group, taking its total holding to 44.5 percent.

The bank said it is in discussions with potential investors regarding a possible raising of new equity capital, comprising of $100 million equity offering and a $100 million mandatory convertible bond.

Diamond teamed up with Africa-based entrepreneur Ashish Thakkar to set up Atlas Mara, a vehicle through which they planned to buy up assets to help build it into a powerful force in African banking.

(Reporting By Andrew MacAskill; Editing by Rachel Armstrong)

Stocks treated in this article : Union Bank of Nigeria PLC, Atlas Mara Ltd

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
DOW JONES AFRICA TITANS 50 INDEX	454.5 PTS	+0.06%	-4.10%	-
S&P AFRICA 40 INDEX	151.9 PTS	-0.45%	-2.99%	-
UNITED PARCEL SERVICE INC.	142.7 USD	+0.34%	-4.21%	121B

Latest news about Atlas Mara Limited

Atlas Mara Limited Reports Earnings Results for the Full Year Ended February 28, 2022	23-10-22	CI
Titan Trust Bank Limited completed the acquisition of 93.41% stake in Union Bank of Nigeria Plc from Union Global Partners Limited, Atlas Mara Limited (OTCPK:AAMA.F) and others.	22-06-01	CI
Titan Trust Bank Limited agreed to acquire 83.39% stake in Union Bank of Nigeria Plc from Union Global Partners Limited, Atlas Mara Limited (OTCPK:AAMA.F) and others.	21-12-22	CI
Atlas Mara Limited's Equity Buyback announced on May 11, 2015 has expired with 2,104,061 shares, representing 2.65% for $8.1 million.	21-10-24	CI
KCB Group PLC completed the acquisition of Banque Populaire du Rwanda S.A from Atlas Mara Limited and others.	21-05-28	CI
KCB Group PLC entered into definitive agreement to acquire Banque Populaire du Rwanda S.A from Atlas Mara Limited and others.	20-11-25	CI
Transcript : Atlas Mara Limited, H1 2020 Earnings Call, Oct 08, 2020	20-10-08
Equity Group Holdings Plc cancelled the acquisition of Banque Populaire du Rwanda and African Banking Corporation, Zambia, African Banking Corporation, Tanzania and African Banking Corporation, Mozambique from Atlas Mara Limited, ABC Holdings Limited and others.	20-06-22	CI
Transcript : Atlas Mara Limited, 2019 Earnings Call, May 12, 2020	20-05-12
Tranche Update on Atlas Mara Limited (OTCPK:AAMA.F)'s Equity Buyback Plan announced on May 12, 2015.	20-05-11	CI
Tranche Update on Atlas Mara Limited (OTCPK:AAMA.F)'s Equity Buyback Plan announced on May 12, 2015.	20-05-11	CI
Atlas Mara Limited cancelled the acquisition of 35% stake in GroCapital Holdings Limited from Fairfax Africa Holdings Corporation (OTCPK:FFXX.F).	20-02-05	CI
Equity Group Holdings Plc entered into a binding term sheet to acquire Banque Populaire du Rwanda and African Banking Corporation, Zambia, African Banking Corporation, Tanzania and African Banking Corporation, Mozambique from from Atlas Mara Limited, ABC Holdings Limited and others for KES 10 billion.	19-04-29	CI
Atlas Mara Limited Announces Executive Changes	19-02-06	CI
Atlas Mara Limited entered into a non-binding memorandum of understanding to acquire 35% stake in GroCapital Holdings Limited from Fairfax Africa Holdings Corporation (OTCPK:FFXX.F).	19-02-05	CI
Atlas Mara Limited cancelled the transaction announced on April 24, 2018	18-08-05	CI
Atlas Mara Limited completed the acquisition of additional 1% stake in Union Bank of Nigeria Plc.	18-06-29	CI
Atlas Mara Limited agreed to acquire additional 1% stake in Union Bank of Nigeria Plc for NGN 2.1 billion.	18-06-25	CI
Atlas Mara Limited Announces Unaudited Financial Results for the First Quarter Ended March 31, 2018; Reports Loan Impairment Charge for the First Quarter of 2018	18-06-07	CI
Atlas Mara Limited announced that it expects to receive $37.5 million in funding from Fairfax Africa Holdings Corporation and other investors	18-04-23	CI
Atlas Mara Limited announced that it has received $2.4 million in funding from Fairfax Africa Holdings Corporation	18-02-14	CI
Atlas Mara Limited Reports Unaudited Consolidated Interim Management Statement for the Nine Months Ended September 30, 2017; Provides Earnings Guidance for the Full Year of 2017	17-11-08	CI
Atlas Mara Limited completed the acquisition of an additional 13.4% stake in Union Bank of Nigeria Plc from Clermont Group.	17-10-04	CI
Atlas Mara Limited Announces Directorate Changes	17-10-03	CI
Atlas Mara Limited announced that it has received $100 million in funding from Fairfax Africa Holdings Corporation	17-07-16	CI

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Company Profile

Atlas Mara Ltd is a British Virgin Islands-based financial services company. The Company is engaged in providing retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services. The Company's segments include Nigeria, Botswana, Zimbabwe and Corporate. The Nigeria segment holds approximately 49.97% stake in Union Bank of Nigeria (UBN) and Board representation. Its Botswana segment represents the investment made in BancABC Botswana and its subsidiaries. Its Zimbabwe segment represents the investment made in BancABC Zimbabwe and its subsidiaries. The Company's other segment Includes Atlas Mara Limited, the British Virgin Islands (BVI) incorporated holding company; Atlas Mara Management Services, the Dubai subsidiary, and all other intermediate group holding entities, also referred to as the Shared Services.

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Corporate Financial Services

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