Bob Diamond and Ashish Thakkar's Atlas to invest $23M in Banque Populaire Rwanda

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

Robert Diamond’s Atlas Mara Ltd. said it’s in exclusive talks to invest about $22.5 million in Banque Populaire du Rwanda and merge it with BRD Commercial Bank Ltd., creating one of the central African country’s largest lenders.

Atlas, which will own 45 percent of BPR if the deal is concluded, also plans to buy stock from other shareholders to bring its holding in the merged bank to more than 70 percent, Atlas said in an e-mailed statement on Monday.

Atlas Mara, co-founded by Diamond, 63, and Ugandan entrepreneur Ashish Thakkar, is expanding in Africa by buying financial services companies.

Read more: Atlas Plans $22.5 Million Investment in Banque Populaire Rwanda – Bloomberg Business.