Atlas Mara Ltd, the African investment vehicle of former Barclays boss Bob Diamond, said on Wednesday that it plans to raise $200 million to increase its stake in Union Bank of Nigeria and to scale up other businesses.

Atlas Mara said it was buying a 13.4 percent stake in the Union Bank of Nigeria from Clermont Group, taking its total holding to 44.5 percent.

The bank said it is in discussions with potential investors regarding a possible raising of new equity capital, comprising of $100 million equity offering and a $100 million mandatory convertible bond.

Diamond teamed up with Africa-based entrepreneur Ashish Thakkar to set up Atlas Mara, a vehicle through which they planned to buy up assets to help build it into a powerful force in African banking. (Reporting By Andrew MacAskill; Editing by Rachel Armstrong)

http://www.reuters.com/article/atlasmara-nigeria-idUSL3N1JI2GR lalasticlala, dominique, Mynd44

Union Bank trying to bounce back stronger.

I only hope that their turn around time and customer relations will improve greatly.

OK cool


In other news;

Reasons why you should protect your property with our self activating fire extinguishers

https://www.nairaland.com/3871215/secure-properties-these-self-activating

Union bank shall be great again after my Gtb.

Union Bank. Building a simpler and smarter bank. Currently the lead in customer relationship.

hmmmm

Beverages:
Eeyaa Am feeling guilty am one of d reason dat contributed to Etisalat Nigeria debt cos am still owing them 500 airtime I borrowed

God Will Judge U

Beverages:
Eeyaa Am feeling guilty am one of d reason dat contributed to Etisalat Nigeria debt cos am still owing them 500 airtime I borrowed

Close eyes pay back.

I am short of words & have nothing to say here

The only bank tha scammer does nt use to desturb somborri with bvn alert

wow

Make I go open account with Union Bank, maybe I will get some share in the $200 Million.

Edopesin:
God Will Judge U

Is not our FOURTH

RECEPTION dey town nah

Is it not the same man whose O&G investments were not bringing forth profits, coupled with the high renumerations he gave staff and himself and investors got pissed off?

Okay

Beverages:
Eeyaa Am feeling guilty am one of d reason dat contributed to Etisalat Nigeria debt cos am still owing them 500 airtime I borrowed

You better pay back....

If only this will help the union bank at ngwa road,Aba,Abia state to renovate their branch and get rid of all those rats running around there.. That rat stuff they vex me die and stupid phcn have an account with them so if you don't want your power supply to be disconnected,you will need to pay up at the said union bank

Beverages:

Is not our FOURTH

RECEPTION dey town nah

Reception?

Good one

Beverages:
Eeyaa Am feeling guilty am one of d reason dat contributed to Etisalat Nigeria debt cos am still owing them 500 airtime I borrowed

ok
I want to sell my Samsung S4 biko
Location is abk, IB or Lag
35k
08037699945

Booked

Nice

Beverages:
Eeyaa Am feeling guilty am one of d reason dat contributed to Etisalat Nigeria debt cos am still owing them 500 airtime I borrowed

Cmon 500?,I borrowed 1k and m yet to payback,infact I don cut the sim sef as crisis don hit dem

swiz123:
If only this will help the union bank at ngwa road,Aba,Abia state to renovate their branch and get rid of all those rats running around there.. That rat stuff they vex me die and stupid phcn have an account with them so if you don't want your power supply to be disconnected,you will need to pay up at the said union bank

They are currently renovating their branches nationwide.

This will likely lead to a shake-up in the management with potential job losses for non-performing staff

Guess it is time to take position in Union bank. I expect their share price to skyrocet with this news.

40manlappy:


They are currently renovating their branches nationwide.

Not in Aba..i can assure you that that place is cursed

BOB Diamond serial investor

good