South African banking group Absa plans to buy a controlling stake in Namibian financial services firm Capricorn Investment Holdings for an undisclosed amount, it said on Friday.
Absa, majority owned by Britain’s Barclays, said the deal was subject to several conditions that include shareholder backing from Capricorn and regulatory approvals.
Capricorn is a financial-services group whose businesses include the flagship brand Bank Windhoek, which is a leading Namibian bank with more than R13-billion in assets. — Reuters