Breaking News: Atlas Mara buying into Crane Bank
KAMPALA, SEPTEMBER 20 – www.256businessnews.com has just learned that fast expanding and London Stock Exchange listed African financial services group Atlas is the buyer into Uganda’s Crane Bank.
Details of the deal such as the stake that is changing hands will be provided by this news site as they become available.
Founded in 2013 by former Barclays executive Bob Diamond and Ugandan Ashish J. Thakkar in 2013, Atlas Mara has taken control of banking operations in Botswana, Zimbabwe, Zambia, Tanzania, Mozambique, Rwanda and Nigeria. This year, Mara Group completed the takeover of Bank Populaire du Rwanda, amedium size financial institution after a merger with the Rwanda Development Bank .
The bank’s assets were valued at $325 million last October. The Mara Group controls 62.1 of the stock.