Barclays: sells entire stake in South Africa's Absa

(CercleFinance.com) - Barclays announced on Thursday that it had sold its entire stake in South African financial group Absa, or 7.
4% of the capital, through an accelerated placement.

The 63 million shares sold by Barclays are worth about 538 million pounds (622 million euros), the British bank said.

Absa, which is listed on the Johannesburg Stock Exchange, is one of Africa's largest diversified financial services groups, present in 12 countries across the continent, including Ghana, Kenya and Tanzania. It has a workforce of around 42,000.

Its activities range from retail, personal and corporate banking to corporate and investment banking, wealth management and insurance.



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