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Barclays seals $2.1bn Africa deal with Absa

South Africa's biggest retail bank Absa, majority-owned by Barclays, has reached an all-share deal to acquire the British bank's operations in Africa to allow it to expand on the continent and catch up with rivals. As part of a $2.1-billion deal first outlined in August Barclays will raise its stake in Absa, South Africa's third-largest bank by value, to 62.3% from 55.5%.

Authors: Dubai Engineering Jobs Admin

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