Barclays' Former CEO, Bob Diamond, and Ashish J. Thakkar, Mara Group's Founder, to Raise $400M to Fund Investments in Africa

Ashish Thakkar, Founder & MD, Mara Group

Atlas Mara Co-Nvest, an investment firm founded by Mara Group Founder, Ashish J. Thakkar, and former Barclay’s chief, Bob Diamond, is looking to raise an additional $400 million to fund its investments in Africa.

In a Press release issued on Tuesday, Atlas Mara announced plans to launch a private placement of 36.5 million shares at a price of $11 a share. The company reportedly plans to use the money realized from the private placement primarily to support the growth of ABC Holdings, the holding company which operates African bank, BancABC, which it acquired in March for $265 million. Atlas Mara will also use part of the funds to finance future acquisitions.

Read more: Bob Diamond And Ashish J. Thakkar To Raise $400 Million to Fund Deals.