Atlas Mara Limited (LSE:ATMA) entered into a non-binding memorandum of understanding to acquire 35% stake in GroCapital Holdings Limited from Fairfax Africa Holdings Corporation (OTCPK:FFXX.F) on February 6, 2019. The transaction will be subject to finalizing definitive agreements, as well as the approval of the South African Reserve Bank, the Minister of Finance, the Competition Commission, and other regulatory approvals and customary conditions precedent. The Board of Directors of Atlas Mara Limited will form a special committee of independent directors to assess the strategic merits of the transaction, and to oversee negotiation of the key terms of a proposed agreement.