Atlas Mara to spend $22 mln to build top Rwandan bank

April 27, 2015 8:07 AM

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LONDON, April 27 (Reuters) - Atlas Mara, the African bank co-founded by former Barclays boss Bob Diamond, is in talks to invest $22.5 million in Banque Populaire du Rwanda (BPR) and merge it with its existing Rwandan bank.

Atlas Mara said on Monday if successfully concluded it will own 45 percent of BPR and plans to buy shares from other local shareholders to lift its stake to more than 70 percent. It plans to merge it with BRD Commercial Bank, which it bought last year.

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