(Corrects to say Namibia, not Nigeria, in last paragraph)
* Bank Windhoek to list after deal
* Namibia in drive to cut foreign holding banks
By Servaas van den Bosch
WINDHOEK, June 7 (Reuters) – Barclays Plc plans to
buy a 49.9 percent stake in Namibia’s second-largest lender by
assets, Bank Windhoek, the country’s central bank said on
Thursday, a deal that gives the British lender a presence in the
south-western African country.
The value of the potential deal had not been determined as
Barclays was yet to start talks with the bank that holds more
than $2 billion in assets, Ebson Uanguta, the central bank’s
deputy governor told reporters.
“We have given the approval for potential acquisition of
Bank Windhoek by Barclays. Now Barclays will continue with its
due diligence and enter into price negotiations,” Uanguta said.
Uanguta also said Bank Windhoek, which offers corporate and
retail banking services, will list the remaining shares on that
country’s bourse following the acquisition.
Bank Windhoek Limited reported a net profit after tax of 160
million Namibian dollars ($19.25 million) in the six months
ended 31 December 2011.
Continued…
