ABC minorities spurn Atlas Mara offer

Friday, November 21, 2014

Shareholders holding 1.3 percent (3.34 million shares) of Pan African banking group ABC Holdings have declined a mandatory takeover offer from UK firm Atlas Mara.

In September, Atlas Mara made a mandatory offer to minority shareholders of ABCH constituting 4,2 percent of the banking group’s share capital.

This came after Atlas Mara had acquired 95,8 percent in the banking group with operations in Zimbabwe, Botswana, Zambia, Mozambique and Tanzania under the BancABC brand.

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