• Inside Labour

    Away with empty rhetoric and slogans - labour needs to focus on real issues, says Terry Bell.

  • Wrap-up: Davos insights

    Alec Hogg speaks about the top three issues at this year's World Economic Forum.

  • Netflix and SA video

    Much of Netflix's potential impact on SA has already been made, says Arthur Goldstuck.

Loading...
See More

Absa welcomes Barclays Africa deal nod

Apr 09 2013 13:21 I-Net Bridge

Absa CEO Maria Ramos. (Picture: Absa)

Related Articles

Barclays, Absa's Africa deal gets the nod

Absa shareholders back Barclays deal

Absa appoints new board members

PIC to back Absa-Barclays deal

Barclays‚ Absa deal still on track

Adapt or die, Barclays boss tells staff

 

Johannesburg - Absa Group [JSE:ASA] has welcomed Finance Minister Pravin Gordhan’s approval of the majority of Barclays Africa’s operations being combined with Absa.

This follows overwhelming support for the strategic transaction from Absa minority shareholders in February.

Maria Ramos‚ Chief Executive of Absa said: “We welcome the approval by Minister Gordhan. This is an important milestone in the transaction in furtherance of our One Africa strategy and reflects South Africa’s commitment to creating the right conditions and climate for foreign investment into the country and the continent.”

Absa and Barclays are committed to satisfying the outstanding conditions relating to the proposed transaction.

As announced on 5 April 2013‚ Absa will announce a revised transaction timeline in due course and expects that the transaction will be completed within the dates allowed for under the sale and purchase agreement between Absa‚ Barclays Africa and Barclays.

The combined‚ JSE-listed business would serve approximately 14.4 million customers and employ around 43 000 people across ten countries.  

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

absa group  |  barclays  |  banks

NEXT ON FIN24X

 

Latest Articles

Fun and inexpensive things to do with the kids Read More...
8 simple ways to earn extra money Read More...
6 motivational tips to help you save this year Read More...
Invest for Income Read More...
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
4 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...