Banque Marocaine du Commerce Exterieur BMCE Bank SA
MOROCCO - Banque Marocaine du Commerce Exterieur (BMCE) and its subsidiary Interfina, jointly acquired 121,500 shares, or about a 16% stake, in Maghrebail, leasing company, for 430 Moroccan dirhams ($40) per share, or a total of 52.245 mil dirhams ($4.85 mil). As a result of the transaction, BMCE now holds a 61% interest in Maghrebail. The shares were acquired in a block purchase from state-owned Banque Centrale Populaire.
Stake raise to 61% from about 45% is completed
Africa/Middle East/Central Asia North Africa
SOUTH AFRICA - Nedcor Ltd, a majority-owned unit of Old Mutual PLC, acquired the entire ordinary share capital of BOE Ltd, an investment management services provider, for 7.51 bil South African rand ($675.4 mil US). The consideration consisted of an increased 290 South African rand ($26.1) in cash plus 0. 4854369 Nedcor shares per 100 BOE shares. Based on Nedcor's closing stock price of 129 rand ($11.6) on April 19, the last full closing day prior to the announcement, each BOE share was valued at 3.526 rand ($0.317). The deal was effective via a scheme of arrangement. Previously, Nedcor offered 280 rand ($25. 2) in cash plus 0.4854369 Nedcor shares per 100 BOE shares, or a total value of 7. 298 bil rand ($656.294 mil).
Acquisition plans are disclosed Increased terms are disclosed  Cape Town High Court approves acquisition Acquisition is completed; BOE shares are delisted
An increased 290 South African rand plus 0.4854369 new shs ord/100 shs ord; previously 280 South African rand ($25.2) cash plus 0. 4854369 new shs ord/100 shs ord
Africa/Middle East/Central Asia Sub-Saharan Africa
SOUTH AFRICA - ABSA Bank Ltd acquired a 56.5% interest in PSG Investment Bank Holdings Ltd, an investment bank, for 620 mil South African rand ($59.92 mil US). The transaction was effected via a scheme of arrangement.
Plans to acquire 56.5% interest are rumoured Agreement to acquire 56.5% interest is disclosed Acquisition of 56.5% interest is completed
620 mil South African rand ($59.92 mil US) cash/56.5% interest
GHANA - Genefitec SA, a unit of Societe Generale SA, acquired a 50.7% interest in Accra-based SSB Bank Ltd, from Blakeney Management, Commonwealth Africa Investment Ltd and CDC Capital Partners for 186.98 bil cedis ($23 mil).
Acquisition of 50.7% interest is completed
186.98 bil Ghanaian cedis ($23 mil US)/50.7% interest
SOUTH AFRICA - Investec Bank Ltd, a unit of Investec Holdings Ltd's Investec Group Ltd subsidiary, acquired a 35. 75% stake, or 33 mil ordinary shares, in AMB Holdings Ltd, a Johannesburg-based provider of financial services, for 7. 7 South African rands ($1.047 US) per share, or a total value of 254.1 mil rands ($34. 557 mil), in a privately negotiated transaction.
Acquisition of 35.75% stake is completed
7.7 South African rands ($1. 047 US)/sh ord
SOUTH AFRICA - ABSA Bank Ltd (AB) acquired a 34% stake or 11.576 mil ordinary shares in Paramount Property Fund Ltd {Paraprop}, a Rondebosch- based provider of property loan services, for 60 mil South African rands ($8 mil US), in a privately negotiated transaction. On completion, a new asset management company was to be established, wherein AB was to hold a 50% interest.
60 mil South African rands ($8 mil US)/34% stake
MOROCCO - Credit Industriel et Commercial {CIC} of France, a majority-owned unit of Credit Mutuel SA, acquired a 10% stake in Banque Marocaine du Commerce Exterieur, a Casablanca-based bank, for 786.43 mil Moroccan dirhams (72 mil euros/$88.343 mil US), in a privately negotiated transaction.
786.43 mil Moroccan dirhams (772 mil euros/$88.343 mil US) /10% stake
SOUTH AFRICA - Barclays PLC of the UK (BP) completed its tender offer to acquire a 53. 96% interest, or 353.468 mil ordinary shares, in Johannesburg-based Absa Group Ltd (AB), from Sanlam Ltd (22%) and other shareholders, for 29.797 bil South African rands (2.62 mil British pounds/$4.953 mil US). The consideration was in exchange for 82.5 rands (7.254 pounds/ $13.712) and 1.8 rands (0.158 pounds/$0.3) in cash dividend per ordinary share. Originally, BP offered 79 rands (6.843 pounds/$13.101) per ordinary share, or a total value of 31.05 bil rands (2.69 bil pounds/$5.149 bil). Previously, BP launched a tender offer to acquire a 60% interest in AB. Originally, BP planned to acquire an undisclosed minority stake in AB.
Plans to acquire undisclosed minority stake are disclosed Plans to acquire 60% interest are disclosed Terms were disclosed  Terms are sweetened  Absa shareholders approve transaction Offer was declared unconditional to acceptances Tender offer to acquire 53.96% interest is completed
A sweetened 82.5 South African rands (7.254 British pounds/$13.712 US) plus 1.8 mil rands (0.158 pounds/$0.3) cash dividend/sh ord; Originally, 79 rands (6.843 pounds/$13.101)/sh ord
Caisse Nationale des Caisses d'Epargne SA
MOROCCO - Caisse nationale des Caisses d'epargne {CNCE} of France, a unit of Caisses d'Epargne, acquired a 35% stake in Credit Immobilier et Hotelier {CIH}, a 58%-owned unit of the Kingdom of Morocco state-owned Caisse de Depot et de Gestion, for 1. 201 bil Moroccan dirham (110 mil euros/$134.662 mil US), in the formation of a joint venture.
Plans to acquire 25% stake are disclosed Agreement to acquire 35% stake is disclosed Acquisition of 35% stake is completed
1.201 bil Moroccan dirham (110 mil euros/$134.662 mil US)/35% stake
EGYPT - National Bank of Kuwait (NB) acquired a 93.7% interest or 70.275 mil ordinary shares in Cairo- based Al Watany Bank of Egypt (AB), for 77.01 Egyptian pounds (3.859 Kuwaiti dinars/ $13.69 US) per share, or a total value of 5.412 bil pounds (271.2 mil dinars/$962. 043 bil US). Originally, NB launched a tender offer for the entire share capital of AB. In May 2007, AB announced that it was seeking a buyer for the company. The transaction was approved by regulatory authorities.
Search for buyer is disclosed  EFG Eurobank is named potential bidder Commercial Bank of Kuwait is named potential bidder Plans to launch tender offer are disclosed Acquisition of 93.7% interest is completed
77.01 Egyptian pounds (3.859 Kuwaiti dinars/$13.69 US)/sh ord
Africa/Middle East/Central Asia Middle East
Industrial & Commercial Bank of China Ltd
SOUTH AFRICA - Industrial & Commercial Bank of China {ICBC} acquired a 20% stake, or 274.386 mil ordinary shares, in Standard Bank Group Ltd (SB), a Johannesburg-based provider of banking services, for an estimated 36.67 bil South African rands (41.969 bil Chinese yuan/$5.617 bil US), via a scheme of arrangement, in a privately negotiated transaction. The transaction was approved by the board of directors, but still subject to shareholders and regulatory approvals. Originally, ICBC was rumored to be planning to acquire a 20% stake, or 273.344 mil ordinary shares, in SB.
Plans to acquire 20% stake are rumored Agreement to acquire 20% is disclosed China Banking Authority approves transaction Acquisition of 20% stake is completed
An estimated 36.67 bil South African rands (41.969 bil Chinese yuan/$5.617 bil US)/ 20% stake
Privately Negotiated Purchase Scheme of Arrangement
Asia-Pacific (ex Central Asia) North Asia
EGYPT - National Bank of Kuwait(SAK) acquired the entire share capital of Al Watany Bank of Egypt, a Mohandessin-based bank.
MOROCCO - Credit Agricole SA (CA) of France raised its interest to 77% from 53%, by acquiring a 24% stake or 0. 840 mil ordinary shares in Credit Du Maroc, a Casablanca- based provider of banking services from Wafa Assurance Sa, a unit of WafaBank, for 1, 592.815 mil Moroccan dirhams (144 mil euros/$186.504 mil US). Concurrently, Attijariwafa Bank agreed to acquire a 81% interest in Credit du Congo SA, a 59% interest in Union Gabonaise de Banque, a 51% interest in Societe Ivoirienne de Banque, a 95% interest in Credit Du Senegal and 65% interest in Societe Commerciale de Banque Cameroun SA from CB, and Sofinco SA agreed to raise its stake to 49% from 34%, by acquiring a 15% stake in Wafasalaf. The transaction was subject to regulatory approval.
Interest raise to 77% from 53% is disclosed Interest raise to 77% from 53% is completed
MOROCCO - Credit Industriel et Commercial {CIC} of France, a majority-owned unit of Credit Mutuel SA, raised its stake to 15% from 10% by acquiring a 5% stake, or 0.5 mil ordinary shares in Casablanca-based Banque Marocaine du Commerce Exterieur, for 3000 Moroccan dirham (262.89 euros/$408.786 US), or a total value of 1.5 bil dirham (131.485 mil euros/ $204.454 mil US), in a privately negotiated transaction.
Agreement to raise stake to 15% from 10% is completed
3000 Moroccan dirham (262.89 euros/$408.786 US)/sh ord
SOUTH AFRICA - Standard Bank Group Ltd (SB) completed its tender offer to raise its interest to 98.93% from 59. 169% by acquiring a 39.761% stake or 15.519 mil ordinary shares in in Liberty Holdings Ltd {Libhold}, a Johannesburg- based insurance company, for ZAR 219.25 (USD 28.597) in cash per share, or a total value of ZAR 4.28 bil (USD 558.182 mil). The offer was conditioned upon at least 90% of shares being tendered. The transaction was subject to shareholders' and regulatory approvals. Originally, SB planned to launch a tender offer o acquire the remaining 40.83% stake, or 20.044 mil ordinary shares, which it did not already own, in Libhold.
Plans to launch TO for rem 40.83% stake are disclosed Tender offer for remaining 40.83% stake is launched Tender offer is completed
EGYPT - Ahli United Bank BSC raised its stake to 79.6% from 35.3%, by acquiring a 44. 3% stake in Ahli United Bank (Egypt) SAE, a Cairo-based commercial bank, for EGP 985 mil (USD 180.3 mil).
Plans to raise interest to 79. from 35.3% is disclosed Interest raise to 79.6% from 3 is completed
EGP 985 mil (USD 180.3 mil)/ 44.3% stake
MOROCCO - Banque Federative du Credit Mutuel {BFCM} of France, a 95%-owned unit of Caisse Federale du Credit Mutuel Central Est Europe, raised its stake to 19.95% from 15.05%, by acquiring a 4. 9% stake, or 7.779 mil ordinary shares, in Casablanca-based Banque Marocaine du Commerce Exterieur {BMCE}, for 290 Moroccan dirham (26.309 euros/ $34.19 US), or a total value of 2.256 bil dirham (204.655 mil euros/$265.958 mil), in a privately negotiated transaction. The transaction was approved by the regulatory authorities.
Raised stake to 19.95% from 15.05% is completed
290 Moroccan dirham (26.309 euros/$34.19 US)/sh ord
MOROCCO - Banque Federative du Credit Mutuel {BFCM}, a unit of Caisse Federale du Credit Mutuel Central Est Europe, acquired a 15% stake, or 23.813 mil ordinary shares, in Casa Principale-based Banque Marocaine du Commerce Exterieur {BMCE}, in a privately negotiated transaction.
SOUTH AFRICA - Absa Group Ltd (AG) raised its interest to 26% from 9%, by acquiring a 17% stake, or 84.9 mil ordinary shares, in Sekunjalo Investments Ltd, a Cape Town- based investment holding company, for 36.5 mil South African rands ($3.65 mil US), in a privately negotiated transaction. Concurrently, AG acquired a 28%, 10%, and a 16% stake in Pinnacle Point Holdings (Pty) Ltd, Convergenet Holdings Ltd and Blue Financial Services Ltd, respectively.
Stake raise to 26% from 9% stake is completed
36.5 mil South African rands ($3.65 mil US)/17% stake
SOUTH AFRICA - Absa Group Ltd (AG) acquired a 16% stake, in Blue Financial Services Ltd, a Pretoria-based provider of financial services, for 389.9 mil South African rands ($38. 985 mil US). Concurrently, AG acquired a 28% stake and a 10% stake, in Pinnacle Point Holdings (Pty) Ltd, and ConvergeNet Holdings Ltd, respectively. Subsequently, AG raised its interest to 26% from 9%, by acquiring a 17% stake, in Sekunjalo Investments Ltd.
389.9 mil South African rands ($38.985 mil US)/16% stake
EGYPT - Ahli United Bank BSC of Bahrain, raised its interest to 85.12% from 79.6%, by acquiring a 5.52% stake, or 3.315 mil ordinary shares, in Cairo-based United Bank (Egypt) SAE, for EGP 37 (USD 6.674) per share, or a total value of EGP 122.648 mil (USD 17.451 mil), in a privately negotiated transaction.
Plans to acquire the remaining 20.4% stake is disclosed Interest raise to 85.12% from 79.6% is completed
NIGERIA - Asset Management Company of Nigeria (AMCON) acquired Bank PHB PLC (Bank PHB), a Lagos-based provider of commercial banking services, a subsidiary of Nigeria Deposit Insurance Corporation (NDIC). Concurrently, AMCON acquired Afribank Nigeria PLC and Spring Bank PLC. Upon completion, Bank PHB has been renamed as Keystone Bank Ltd.
NIGERIA - Ecobank Transnational Inc acquired the entire share capital of Oceanic Bank International PLC, an Abuja FCT-based provider of commercial banking services, for NGN 55 bil (USD 352.55 mil), via scheme of arrangement.
Acquisition agreement is disclosed Terms are disclosed  Target shareholders grant approval Acquisition is completed
EGYPT - HSBC Bank Middle East Dubai, a subsidiary of HSBC Holdings PLC{HSBC}, acquired a 6.747% stake, or 32.903 mil ordinary shares, in EFG- Hermes Holdings SAE, a Cairo- based provider of investment banking services, for EGP 10. 12 (USD 1.671) per share, or a total value of EGP 326.327 mil (USD 53.876), in a privately negotiated transaction.
Acquisition of 6.747% stake is completed
HSBC HSBA HBC HSBC HBC1 HBC2 HSBI HB1X HB2X
EGP 10.12 (USD 1.671) per share/ shs ord
Euro Paris London New York Hong Kong Frankfurt Frankfurt SEAQ Xetra Xetra
EGYPT - Qatar National Bank SAK (QNB) of Qatar, a majority-owned unit of Qatar state-owned Qatar Investment Authority, acquired a 77.17% interest, or 342.277 mil ordinary shares in Cairo- based National Societe Generale Bank SAE, from Societe General SA, for EGP 12.157 bil (USD 1.974 bil). Concurrently, QNB acquired the remaining 22.83% stake, or 101.259 mil ordinary shares, which it did not already own, in National Societe Generale Bank.
Plans to acquire 77.17% intere are disclosed Definitive agreement to acquir 77.17% interest is disclosed Central Bank of Egypt grants approval Egypt Capital Market Authority grants approval Target board grants approval  Acquisition of 77.17% interest completed
EGP 12.157 bil (USD 1.974 bil) / ord shs
EGYPT - Qatar National Bank SAK (QNB) of Qatar, a majority-owned unit of Qatar state-owned Qatar Investment Authority, raised its interest to 97.12% from 77. 71%, by acquiring a 19.41% stake, or 88.506 mil ordinary shares, in Cairo-based National Societe Generale Bank SAE, for EGP 38.65 (USD 6.275) per share, or a total value of EGP 3.421 bil (USD 555.406 mil). Concurrently, QNB acquired 77.71% interest, or 342.277 mil ordinary shares in National Societe Generale Bank.
Plans to launch mandatory tend 23.83% stake are disclosed Central Bank of Egypt grants approval Egypt Capital Market Authority grants approval Tender offer launched  Target board grants approval  Interest raise to 97.12% from 77.71% is completed
SOUTH AFRICA - Sasfin Holdings Ltd acquired the remaining 32% stake or 8.987 mil ordinary shares, which it did not already own, in IQuad Group Ltd, a Port Elizabeth- based provider of investment advisory services, for ZAR 3. 65 (USD 0.354) in cash per share, or a total value of ZAR 32.808 mil (USD 3.945 mil) .
Agreement to acquire remaining 32% is disclosed Acquisition of remaining 32% s
GHANA - Republic Bank Ltd of Trinidad & Tobago raised its stake to 32.02% from 8.79% by acquiring a 23.23% stake, or 68.855 mil shares, in HFC Bank Ghana Ltd, an Accra- based bank, from Aureos Africa Fund LLC, a unit of Abraaj Capital Ltd's Aureos Capital Ltd subsidiary, in a privately negotiated transaction.
Stake raise to 32.02% from 8.79% is completed
Atlanta Cie d'Assurances et de Reassurances SA
MOROCCO - Credit Immobilier et Hotelier SA acquired a 10% stake, or 6.019 mil ordinary shares, in Atlanta Cie d'Assurances et de Reassurances SA, a Casablanca- based insurance company, and a unit of Holmarcom SA, from state-owned Caisse De Depot Et De Gestion, for MAD 68 (USD 7.921) in cash per share, or a total value of MAD 409. 295 mil (USD 47.676), in a privately negotiated transaction.
Agreement to acquire 10% stake is disclosed Acquisition of 10% stake is completed
Privately Negotiated Purchase Financial Acquiror Privatization
TOGO - Qatar National Bank SAQ of Qatar raised its stake to 23.5% from 12.5%, by acquiring a further 11%, or 2. 048 bil ordinary shares, in Lome-based Ecobank Transnational Inc, for XOF 143.291 bil (USD 283 mil), in a privately negotiated transaction.
Interest raise to 23.5% from 1 is completed
TOGO - Qatar National Bank SAQ of Qatar acquired a 12.5% stake, or 1.994 bil ordinary shares, in Lome-based Ecobank Transnational Inc from AMCON Inc, for XAF 62.606 (USD 0. 124) per share or a total value of XAF 124.842 bil (USD 246.313 mil), in a privately negotiated transaction.
SOUTH AFRICA - Traxys Africa Pty Ltd (Traxys), a unit of Traxys Europe SA, completed a tender offer to acquire the entire share capital of Metmar Ltd (Metmar), a Sandton-based provider of financial investment services, for a ZAR 1.1 (USD 0.093) in cash per share or a total value of ZAR 294.037 mil (USD 24.952 mil). Traxys received irrevocable undertakings to accept the offer with respect to 52.277% of the company entire share capital.
Pending regulatory approval  Pending regulatory approval  Pending board approval  Agreement to launch tender off  Tender offer launched  Tender offer is completed
Going Private Tender Offer Tender/Merger
EGYPT - Natixis SA of France, a unit of BPCE SA, acquired an 11.8% stake or 68.44 mil ordinary shares in EFG Hermes Holdings SAE, a 6th Of October City-based securities brokerage, from Dubai Financial Group LLC, a unit of the Emirati state-owned Dubai Holding LLC, in a privately negotiated transaction. Terms were not disclosed. Originally, in May 2016, Dubai Financial Group LLC, a unit of the Emirati state-owned Dubai Holding LLC, was rumored to be seeking a buyer for its 12% stake, or 69.604 mil ordinary shares, in EFG Hermes Holdings SAE, a 6th Of October City-based securities brokerage.
Search for buyer for 12% stake is rumored Acquisition of 11.8% stake is completed
Privately Negotiated Purchase Rumored Deal
ZIMBABWE - First Merchant Bank Ltd (FMB) of Malawi acquired a 67.68% majority interest or 1.457 bil ordinary shares in Barclays Bank of Zimbabwe Ltd (BBZ), a Harare-based commercial bank, from Barclays PLC. Originally, FMB was rumored to be planning to acquire BBZ.
Transaction rumored  Acquisition of 67.68% majority interest is completed