Bob Diamond Says Carlyle Ends Support for Barclays Africa Offer

JOHANNESBURG, Capital Markets in Africa: Bob Diamond, co-founder of African banking group Atlas Mara Ltd., said Carlyle Group LP has withdrawn support for a potential joint acquisition of Barclays Plc’s African unit.

The U.S. buyout firm ended its backing for the potential joint bid for a stake in Barclays Africa Group Ltd. for various reasons, Diamond, 65, said in an interview with Bloomberg Radio in New York on Wednesday. Regulators made it clear that they weren’t keen on an offer from a private-equity firm, he said.

Diamond’s interest in the Barclays unit emerged in April, when he confirmed that he was seeking to pull together a group of investors, including New York-based Carlyle, for a joint bid. Barclays Chief Executive Officer Jes Staley had earlier said that Diamond, a former Barclays CEO, may lack the “financial capability” to buy the African business.

“The consortium has committed long-term strategic investors,” Diamond said on a conference call in April. “The funding is in place. There is support for this potential transaction.”

Leave a Comment