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Atlas Mara Ltd. is considering options for its stake in a Nigerian bank after receiving takeover interest for one of its last remaining assets, according to people with knowledge of the matter.
The initial approaches for its 49.97% holding in Lagos-based Union Bank of Nigeria Plc came from local lenders looking to expand in Africa’s biggest economy, the people said, asking not to be identified as deliberations are private. The firm is working with Rothschild & Co. and no final decision has been made on a potential sale or any other alternatives, they said.
Representatives for Atlas Mara and Rothschild declined to comment.
Obinna Chima
Atlas Mara Limited, an international financial services company that was formed to undertake investment in targeted banks in Africa, is considering options for its stake in Union Bank Nigeria Plc after receiving takeover interest, Bloomberg reported.
The initial approaches for Atlas Mara’s 49.97 per cent holding in the bank came from local lenders looking to expand in Africa’s biggest economy, the people said, asking not to be identified as deliberations are private.
The firm is working with Rothschild & Co. and no final decision has been made on a potential sale or any other alternatives, they said.
Representatives for Atlas Mara and Rothschild declined to comment.
Atlas Mara Mulls Options on Nigerian Bank After Approaches
Bloomberg 1/22/2021 Dinesh Nair
(Bloomberg) Atlas Mara Ltd. is considering options for its stake in a Nigerian bank after receiving takeover interest for one of its last remaining assets, according to people with knowledge of the matter.
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The initial approaches for its 49.97% holding in Lagos-based Union Bank of Nigeria Plc came from local lenders looking to expand in Africa’s biggest economy, the people said, asking not to be identified as deliberations are private. The firm is working with Rothschild & Co. and no final decision has been made on a potential sale or any other alternatives, they said.