Barclays‚ Absa deal still on track

Johannesburg - Absa Group [JSE:ASA] said on Friday the transaction in which it would acquire Barclays' African assets remains subject to various conditions precedent‚ including regulatory approvals.

“While good progress continues to be made‚ the indicative corporate actions timetable in the circular is no longer applicable. However‚ it is still expected that the transaction will be completed within the dates allowed for under the sale and purchase agreement entered into between Absa Group‚ Barclays Africa Group Holdings and Barclays Bank PLC‚” Absa said‚ adding that a further announcement setting out a revised corporate actions timetable with regards to the transaction will be released in due course.