Dubai business shows interest in buying Absa
Dubai-based Abraaj Group has shown interest in buying Barclays Group’s African business – known as Absa locally – Bloomberg reports.
Speaking in an interview at the World Economic Forum in Davos, Abraaj chief executive officer Arif Naqvi said that the Barclays Africa business was “very fine” and well-run, and that if an opportunity presented itself to acquire it, he “would certainly be one of those that would be at the table”.
The two companies aren’t currently in talks, he noted.
Barclays currently holds 50.1% of Barclays Africa after taking the decision in 2016 to slowly divest in the company over three or so years.
Other investor groups that have also expressed interest in buying or increasing a stake in the business include the South African Public Investment Corporation (PIC) which showed interest in upping its stake, as well as ex-Barclays CEO Bob Diamond, who had also shown interest.
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