HELIOS FAIRFAX PARTNERS CORPORATION Atlas Mara Limited (LSE:ATMA), the company co-founded by former Barclays Plc head Bob Diamond, plans to sell a 35% stake to Fairfax Africa Holdings Corporation (OTCPK:FFXX.F) to help fund the purchase of a larger stake in a Nigerian bank. Atlas Mara will raise $200 million selling new shares to existing shareholders and Fairfax Africa and by issuing a convertible bond to the Toronto-based investment company, Atlas Mara said in a statement recently. London-listed Atlas Mara also agreed to acquire an indirect 13.4% shareholding in Union Bank of Nigeria Plc from the Clermont Group for $55 million, which will raise its effective stake in the Lagos-based lender to 44.5%.
"A strategic partnership with Fairfax Africa creates a strong relationship between two like-minded, long-term investors in Africa," Atlas Mara said. "Each is focused on capitalizing on the long-term growth potential of Africa and provides permanent capital to support growth."
