{"id":177181,"date":"2017-05-31T15:11:04","date_gmt":"2017-05-31T13:11:04","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=177181"},"modified":"2017-05-31T15:11:04","modified_gmt":"2017-05-31T13:11:04","slug":"barclays-plots-r26-billion-absa-sale-report","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/177181\/barclays-plots-r26-billion-absa-sale-report\/","title":{"rendered":"Barclays plots R26 billion Absa sale &#8211; report"},"content":{"rendered":"<p class=\"sdc-news-story-article__intro\">A Sky News report claims that Barclays aims to sell a large chunk of its stake in Barclays Africa Group, formerly Absa, for $2 billion (R26 billion).<\/p>\n<p class=\"sdc-news-story-article__intro\">The report claims that the group&#8217;s chief executive is targeting higher-growth areas.<\/p>\n<p class=\"sdc-news-story-article__intro\">Barclays Africa Group was formed in July 2013 by combining of Absa Group and Barclays\u2019 African operations which include Ghana, Kenya and Uganda.<\/p>\n<p>Sky News said that Barclays is drawing up plans to reduce its share in Barclays Africa Group to\u00a0approximately 28%, from a current 50.1%.<\/p>\n<p>Citing insiders, the news company said that the Public Investment Corporation (PIC) will likely acquire &#8220;a large minority chunk of the shares on offer&#8221;.<\/p>\n<p>It said that the deal could be announced later today &#8211; Wednesday.<\/p>\n<p>The British lender initially cut its stake in Barclays Africa from 62% to 50.1% in May 2016, noting that it would continue to sell down its shareholding.<\/p>\n<hr \/>\n<p class=\"sdc-news-story-article__body\"><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/banking\/122449\/government-in-talks-with-barclays-over-absa-stake-report\/\" target=\"_blank\" rel=\"noopener noreferrer\">Government in talks with Barclays over Absa stake: report<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Sky News report claims that Barclays aims to sell a large chunk of its stake in Barclays Africa Group, formerly Absa, for $2 billion (R26 billion).<\/p>\n","protected":false},"author":10,"featured_media":109375,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[25,3300],"class_list":["post-177181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-active","tag-barclays"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/177181","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=177181"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/177181\/revisions"}],"predecessor-version":[{"id":177183,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/177181\/revisions\/177183"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/109375"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=177181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=177181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=177181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}