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SA investors seek 10% stake of Barclays Africa

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(Bloomberg)
(Bloomberg)

Johannesburg - A group of South African investors plan to make an offer for 10% of the shares in Barclays Africa Group [JSE:BGA], a person familiar with the matter said.

The consortium, which includes the Public Investment Corp, Africa’s biggest money manager, is set to meet Barclays next week, said the person, who asked not to be identified because the talks are private.

The investors will push for a discount on Barclays Africa’s current share price as the divestment coincides with a deterioration in South Africa’s economy, the person said.

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