FORMER Barclays Chief Executive Bob Diamond is teaming up with private equity group Carlyle to prepare a bid to buy the bank’s African operations, a source familiar with the matter told Reuters on Monday.
Diamond is looking to structure a deal to acquire Barclays’ 62 percent stake in Barclays Africa Group Limited via his investment vehicle Atlas Merchant Capital, set up to invest in financial services after he left the UK-based bank.
Carlyle and Atlas Merchant declined to comment.
Barclays on March 1 said it would sell down its stake in the business, to focus instead on a new ‘transatlantic’ strategy. Sky News first reported the proposed deal on Sunday.-Reuters