Bob Diamond in talks to buy stake in Nigeria's Union Bank

Bob Diamond, CEO of Atlas Mara and Former CEO of Barclays

Atlas Mara, the African investment vehicle of former Barclays boss Bob Diamond, is in talks to buy a $275 million stake in Union Bank of Nigeria , a person familiar with the matter said on Thursday.

Lagos-based UBN was established as Colonial Bank in 1917, and from 1925 until the 1970s was owned by Barclays, the British bank that Diamond led before being ousted under a cloud two years ago. UBN’s market capitalisation is about $850 million.

Read more: Bob Diamond in talks to buy stake in Nigeria's Union Bank-source | Reuters.

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