Bob Diamond Is So Very Close To Running A Bank Again

The former Barclays chief’s new hobby is buying financial firms in Africa.

Atlas Mara announced on Monday that it had agreed to take the stake in ABC Holdings, which operates the African bank BancABC, and to acquire its controlling shareholder, ADC African Development Corporation, for about $265 million in cash and shares.

“When we founded Atlas Mara, we did so with the intention of identifying and partnering with exceptional multi-country African financial services companies,” Mr. Diamond said in a statement. “Our objective is to build Africa’s premier financial services group leveraging the access to capital, liquidity and funding that we at Atlas Mara can provide….”

BancABC, which was founded in 1956, operates in Botswana, Mozambique, Tanzania, Zambia and Zimbabwe and has a group-services office in South Africa. The company, based in Botswana, is listed in Botswana and Zimbabwe.

Diamond’s New Venture Plans to Acquire African Bank [DealBook]

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5 Responses to “Bob Diamond Is So Very Close To Running A Bank Again”

  1. guesst says:

    Just call me Bob "Blood" Diamond.

    -Bob Diamond

  2. pokey says:

    Why don't these slime bags crawl into the desert sun, dry up, and die?

  3. mr_blonde says:

    So does Banc ABC follow directly behind Banc Aaa Aardvark in the Botswana yellow pages?

  4. Guest says:

    Bob, contact me for a great lending opportunity.

    -Nigerian Prince Kumalo

  5. Charles Marlow says:

    Mr. Kurtz is that you?