Barclays says to sell 12 pct stake in African business

May 4, 2016 3:29 PM

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LONDON May 4 Barclays said on Wednesday it is selling shares representing 12 percent of Barclays Africa Group, as the British bank follows through on plans announced in March to sell down its stake in its African business.

Barclays said in a statement it would sell 103.6 million shares in BAG, with up to 10.3 million shares going to South African state pension fund Public Investment Corporation (PIC).

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