Helios requires premium on Atlas Mara for completion of merger with Fairfax
In order to bail out its future partner’s coffers, the British investment fund is forcing its Canadian counterpart to take over its stake in the loss-making African bank at a much higher than market price.
02/09/2020 at 15h46, by Tarik Bargal
Atlas Mara was, at one point, well on its way to selling four African banking subsidiaries to the Kenyan Equity Group Holdings PLC. The transaction would have allowed the smaller subsidiaries to reach critical size thanks to the backing of a continental-scale group. However, after 14 months of negotiations, the two banks confirmed on 23 June that no agreement had been reached, further complicating the prospects of the bank founded by former Barclays CEO Bob Diamond.
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