Bob Diamond confirmed months of speculation: after a four-year enforced break, he wants back into his old African business — with financial firepower courtesy of Carlyle Group LP.
The American-born financier said on a conference call Tuesday that he and investors including U.S. private-equity giant Carlyle are working together on a potential bid for Barclays Plc’s controlling stake in its African business.
Diamond ran Barclays before his 2012 ouster during the Libor scandal.
“The consortium has committed long-term strategic investors,” Diamond said on the call. “The funding is in place. There is support for this potential transaction.”
Atlas Mara Ltd., the venture Diamond and Ugandan entrepreneur Ashish Thakkar formed to buy African banks, said earlier Tuesday that the two men’s firms were in talks to potentially mount a bid for Barclays Africa and combine it with Atlas Mara.
A combination with Barclays Africa Group Ltd. would rapidly accelerate Atlas Mara’s growth and give Diamond, 64, control of operations he championed as the chief executive officer of the British lender.
Source: bloomberg