Banque Internationale pour l'Afrique de l'Ouest(Ivory Coast)
IVORY COAST - Banque Belgolaise SA of Belgium acquired an 80% interest in Banque Internationale pour l'Afrique de l'Ouest en Cote d'Ivoire (BIAO-CI) from the Ivory Coast government for 5. 6 bil CFA francs ($8.6 mil US) .
Search for buyer(s) for 70% interest is disclosed Divestiture of 10% stake are disclosed Banque Belgolaise SA is bidding for a majority stake Divestiture of 80% interest is completed
5.6 bil CFA francs ($8.6 mil US)/80% interest
Africa/Middle East/Central Asia Sub-Saharan Africa
TANZANIA - Absa Group Ltd of South Africa acquired a 70% interest in National Bank of Commerce from the government of Tanzania for an estimated 14,820 mil Tanzanian shillings ($18.5 mil/121 mil South African rand).
Acquisition of 70% interest is completed
An estimated 14,820 mil Tanzanian shillings ($18.5 mil US/121 mil South African rand)/70% interest
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
EGYPT - HSBC Holdings PLC of the UK increased its interest in Egyptian British Bank to 90% from 40% for 503.3 mil Egyptian pounds ($140.97 mil). Previously, HSBC had planned to increase its stake to 51%.
Stake increase to 51% from 40% is planned Stake increase to 90% from 40% is planned Stake raise to 90% from 40% is completed
HSBA HBC HSBC HSBC HBC1 HBC2 HSBI HB1X HB2X
503.3 mil Egyptian pounds ($140.97 mil US) cash/50% interest
London New York Hong Kong Euro P.P.M Frankfurt Frankfurt SEAQ Xetra Xetra
Banque Marocaine pour le Commerce et l'Industrie SA
ABN Amro Bank Maroc(ABN-Amro Holding NV)
MOROCCO - Banque Marocaine pour le Commerce et l'Industrie SA (BCMI) of Casablanca, a unit of BNP- Paribas SA, acquired a 99.4% interest in ABN Amro Bank Maroc (AABM) from ABN-Amro Holding NV, for 275.8 mil dirham ($24.4 mil). On completion, BCMI planned to acquired the remaining stake in AABM.
Agreement to acquire 99.4% interest is disclosed Acquisition of 99.4% is completed
275.8 mil Moroccan Dirham ($24.4 mil US)/99.4% interest
Standard Bank Investment Corp Ltd{Stanbic}
SOUTH AFRICA - Standard Bank Investment Corp Ltd (Stanbic) acquired Melville Douglas, private client investment management business.
Acquisition plans are disclosed Transaction Completed
MOROCCO - Wafabank acquired BBVA-Marruecos, bank, from Banco Bilbao Vizcaya Argentaria, for 177.5 mil Moroccan dirhams ($15 mil US).
177.5 mil Moroccan dirhams ($15 mil US)/assets
MOROCCO - Societe Generale SA (SG) of France acquired a 50.02% interest, or 0.26 mil shares, in La Marocaine-Vie, life insurance company, for 330 dirhams ($27.34) in cash per share, or a total value of 86.66 mil dirhams ($7.18 mil). The acquisition was effected via SG's subsidiaries, SGMB Bank and Sogecap, who now hold 14.96% and 35.05% respectively.
Acquisition plans are disclosed Acquisition of 50.02% interest is completed
330 Moroccan dirhams ($27.34 US) cash/sh ord
JP Morgan Chase & Co-South African Private Client Business
SOUTH AFRICA - HSBC Holdings PLC of the UK acquired the South African private client business of JP Morgan Chase & Co. Terms were not disclosed.
BOTSWANA - Unifer Holdings Ltd of South Africa acquired Penrich Employee Benefits, provider of pensions and other financial services. Terms were not disclosed.
UGANDA - Standard Bank Investment Corp Ltd (Stanbic) acquired an 80% interest in Uganda Commercial Bank Ltd (UCB) from the Ugandan government for 33.913 bil Ugandan shillings ($19.5 mil). The government retained the remaining 20% stake, which will be diluted to 10% after UCB is merged with Stanbic's local operations.
Plans to acquire 80% interest are disclosed Acquisition of 80% interest i completed and value disclosed
33.913 bil Ugandan shillings ($19.5 mil US)/80% interest
MALAWI - Standard Bank Investment Corp Ltd (Stanbic) of South Africa acquired a 60% interest in the Commercial Bank of Malawi from the Malawi government for 942.623 mil kwachas ($13. 8 mil).
Acquisition of 60% interest is completed
942.623 mil Malawi kwachas ($13.8 mil US)/60% interest
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
TUNISIA - Societe Generale SA of France was chosen by the Tunisian Government to acquire a 52% interest in Union Internationale de Banques for an estimated 103 mil dinar ($73.53 mil), as part of a privatisation programme. The process was being conducted by auction.
Plans to acquire 52% interest are disclosed Acquisition of 52% is completed
An estimated 103 mil Tunisian dinar ($73.53 mil US) /52% interest
Franklin Templeton NIB Asset Management  Co Ltd
SOUTH AFRICA - Nedcor Ltd (NL), a unit of Old Mutual PLC acquired the remaining 50% interest, which it did not already own, in Franklin Templeton NIB Asset Management Co Ltd (FTN), a provider of fund management and financial services, from its indirect joint venture partner Franklin Templeton Investments. NL's subsidiary Nedcor Investment Bank held a 50% interest in FTN.
Acquisition of the remaining 50% interest is completed
SOUTH AFRICA - HSBC Holdings PLC acquired the remaining 40% stake which it did not already own, in Equator Holdings Ltd, a Johannesburg- based investment bank, from Nedbank Africa Investment Ltd, a unit of Old Mutual PLC's Nedcor Ltd subsidiary. Terms were not disclosed.
Acquisition of remaiing 40% stake is completed
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
SOUTH AFRICA - Standard Chartered PLC of the UK, acquired 20twenty, a bank, for an estimated 74.45 South African rands (6.207 mil British pounds/$10 mil US). The transaction was subject to the approval of regulatory authorities.
Acquisition plans are disclosed Acquisition is completed
Approximately 74.45 South African rands (6.207 mil British pounds/$10 mil US)/ assets
MOZAMBIQUE - Standard Bank Investment Corp Ltd {Stanbic}, through its Standard Bank Group unit, raised its interest to 96% from 40.71%, in Banco Standard Totte de Mocambique, from Banco Totta e Acores SA, a unit of Santander Central Hispano SA, for 500 bil Mozambique meticals ($21.5 mil US).
Agreement to raise interest to 96% from 40.71% is disclosed Transaction Completed
500 bil Mozambique meticals ($21.5 mil US)/55.29% interest
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
MAURITIUS - State Bank of India, a 59.73%-owned unit of Indian State-owned Reserve Bank of India, acquired a 51% interest in Port Louis-based Indian Ocean International Bank Ltd. Terms were not disclosed.
Acquisition of 51% interest is completed
Asia-Pacific (ex Central Asia) South Asia
EGYPT - Bank of Piraeus SA (BP) of Greece completed its tender offer to acquire 69.3% interest, or 6.671 mil ordinary shares, in Cairo- based Egyptian Commercial Bank (EC) for 20 Egyptian pounds (2.843 euros/$3.465 US) per share, or a total value of 133.418 mil Egyptian pounds (18.964 mil euros/$18. 964 mil). Previously, BP planned to launch a tender offer to acquire the entire ordinary share capital of EC. Originally, BP planned to acquire an undisclosed minority stake in EC. The transaction was approved by regulatory authorities.
Plans to acquire minority stake are disclosed Tender offer is launched  Tender offer for 69.3% interes is completed
20 Egyptian pounds (2.843 euros/$3.465 US)/sh ord
SUDAN - Dubai Islamic Bank Ltd (DI) of the United Arab Emirates acquired a 60% interest in Al Khartoum Bank SA (AK), from Sudan government. Upon completion, DI was to take responsibility for all the operations and development of AK.
Agreement to acquire 60% interest is disclosed Acquisition of 60% interest is completed
Africa/Middle East/Central Asia Middle East
KENYA - State Bank of India, a unit of Indian state-owned Reserve Bank of India, acquired a 76% interest in Nairobi-based Giro Commerical Bank, for 513.46 mil Kenyan shillings ($7.00 mil US). The transaction had been subject to regulatory approval.
Agreement to acquire 76% interest is disclosed Acquisition of 76% interest is completed
513.46 mil Kenyan shillings ($7.00 mil US)/76% interest
NIGERIA - First Bank of Nigeria PLC merged with Lagos- based Ecobank Nigeria PLC, a 54%-owned unit of Ecobank Transnational Incorporated (ETI). Terms were not disclosed. The transaction was subject to regulatory approval and was to include the acquisition of ETI. On completion, the merged entity was named First Ecobank PLC.
SOUTH AFRICA - Absa Bank Ltd, a majority owned unit of Barclays Bank PLC, acquired Barclays National Bank, South African Branch, a unit of Barclays Bank PLC, for an estimated 578 South African rand ($91.002 mil US) in cash. The transaction was approved by regulatory approval.
Acquisition plans are disclose  Acquisition is completed
An estimated 578 South African rand ($91.002 mil US)/ assets
SOUTH AFRICA - Credcor Ltd, a unit of BoE Ltd, acquired a 50% interest in Furnex Consumer Credit (Pty) Ltd, a provider of consumer credit services, from Furnex Consumer Credit (Pty) Ltd, a unit of Furnex Capital Ltd.
Plans to acquire 50% interest are disclosed Acquistion is completed
38 mil South African rand ($4.112 mil US)/50% interest
SOUTH AFRICA - Standard Bank Group Ltd acquired a 25% interest in RCS Investment Holdings, an investment holdinh company.
Acquisition of 25% interest is completed
SOUTH AFRICA - Standard Chartered PLC (SC) acquired a 25% stake in First Africa Group Holdings Ltd, a Johannesburg-based provider of corporate financial advisory services, from First Africa SA (Pty) Ltd. The transaction was subject to regulatory approvals.
Agreement to acquire 25% stake is disclosed Acquisition of 25% stake is completed
EGYPT - SanPaolo IMI SpA of Italy acquired an 80% interest in Alexandria-based Bank of Alexandria (BA), from the government of Egypt (GE), for 9.124 bil Egyptian pounds (1.276 mil euros/$1.6 bil US), via an auction. The transaction was subject to regulatory approvals. Originally, In June 2006, GE announced that it was seeking a buyer for its 80% interest in BA. Commercial International Bank, BNP Paribas, Arab Bank, and Barclays were named potential bidders.
Search for buyer for 80% interest is disclosed San Paolo IMI was named as potential bidder Agreement to acquire 80% interest is disclosed Acquisition of 80% interest is completed
9.124 bil Egyptian pounds (1. 276 mil euros/$1.6 bil US)/ 80% interest
EGYPT - Union National Bank of United Arab Emirates acquired the 58.5% interest of Alexandria Commercial and Maritime Bank, for 150.3 mil Egyptian pounds (96.890 mil United Arab Emirates dirhams/ $26.386 mil US).
150.3 mil Egyptian pounds (96.890 mil United Arab Emirates dirhams/$26.386 mil US)/58.5% interest
SENEGAL - Attijari Bank of Morocco, a unit of BCM and Wafabank, acquired a 66.67% interest in Banque Senegalo Tunisienne, a Dakar-based provider of financing services.
Agreement to acquire 66.67% interest is disclosed Acquisition of 66.67% interest is completed
CAPE VERDE - Banco Internacional do Funchal SA {BANIF} of Portugal, a unit of Banco Internacional do Funchal SA, acquired a 46% stake in Praia-based Banco Caboverdiano de Negocios, from Sociedade de Estudos e Promacao de Investimentos SA, for 356.032 mil Cape Verde escudo (3.4 mil euros/$4.478 mil US).
Agreement to acquire 46% stake is disclosed Acquisition of 46% stake is completed
356.032 mil Cape Verde escudo (3.4 mil euros/$4.478 mil US)/46% stake
MAURITANIA - Societe Generale SA of France acquired a 51% interest in Banque Internationale d'Investissements (BI), a bank, from Ballouhey SA (BA) (38.25%) and Banque Europeenne d'Investissement (BE) (12.75%). On completion, BA held a 36.75% stake, and BE a 12.25% stake, in BI.
Acquisition of 51% interest is completed
KENYA - Standard Bank Group Ltd acquired a 60% interest in a Nairobi-based CFC Bank Ltd (CB). The transaction was approved by regulatory authorities. On completion, CB was renamed CFC Stanbic Holdings. Originally, in January 2007, CB announced that it was seeking a buyer for a 60% interest in the company.
Search for buyer for a minorit stake is disclosed Search for buyer for 60% interest is disclosed Agreement to acquire 60% interest is disclosed Competition authorities approves transaction Transaction Completed
MALI - Banque Marocaine du Commerce Exterieur of Morocco acquired a 35% stake in Bozola Bamako-based Bank of Africa {BOA}.
LIBYA - BNP Paribas SA (BNP) of France acquired a 19% stake in Tripoli-based Sahara Bank (SB), from the government of Libya, for 249. 137 mil Libyan dinars (145 mil euros/$199.917 mil US). Concurrently, BNP was granted an option to raise its interest from 19% to 51%, by acquiring a 32% stake in SB. Originally, in March 2007, the government of Libya announced that it was seeking a buyer for its 19% stake in Tripoli-based SB.
Search for buyer for 19% stake is disclosed Plans to acquire 19% stake is disclosed Acquisition of 19% stake is completed
249.137 mil Libyan dinars (145 mil euros/$199.917 mil US)/19% 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
ALGERIA - Deutsche Bank AG of Germany acquired a 51% interest in Strategica, a provider of financial advisory services. Terms were not disclosed.
LIBYA - Arab Bank PLC acquired a 19% stake in Libyan state-owned Wahda Bank (WB), for 368.538 mil Libyan dinars (210 mil Euros/$307. 423 mil US). Originally, in November 2007, the Libyan government was rumored to be seeking a buyer for a 19% stake, in WB. Socit Gnrale, Intesa Sanpaolo, Arab Bank and the Arab Banking Corporation of Bahrain, and Attijariwafa were named potential bidders.
Search for buyer for 19% stake is rumored Plans to acquire 19% stake are disclosed Acquisition of 19% stake is completed
368.538 mil Libyan dinars (210 mil Euros/$307.423 mil US)/19% stake
TUNISIA - Qatar National Bank SAQ of Qatar, a 50% owned unit of the Qatar government acquired a 50% interest in Banque Tuniso Qatarie d'Investissement, a Tunisia-based bank.
Acquisition of 50% interest is completed
Compagnie Bancaire de l'Afrique Occidentale
SENEGAL - Attijariwafa Bank acquired a 79.15% interest in Compagnie Bancaire de l'Afrique Occidentale. Terms were not disclosed.
Plans to acquire 79.15% interest are disclosed Acquisition of 79.15% interest is completed
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 - National Bank of Kuwait(SAK) acquired the entire share capital of Al Watany Bank of Egypt, a Mohandessin-based bank.
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
EGYPT - Commercial International Bank-Egypt SAE acquired the remaining 49.89% stake, or 27.437 mil ordinary shares, which it did not already own, in CI Capital Holding Co SAE, a Cairo-based investment bank, from investor Naguib Sawiris and other undisclosed shareholders, for 28 Egyptian pounds ($5.28 US) per share, or a total value of 768.32 mil pounds ($144.92 mil). The transaction was subject to regulatory approvals.
Agreement to acquire remaining 49.89% stake is disclosed Acquisition of remaining 49.89 stake is completed
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
SOUTH AFRICA - Finbond Property Finance Ltd (FP) acquired Moneyline Financial Services (Pty) Ltd, a Johannesburg-based provider of micro finance services, from Net1 Applied Technologies South Africa Ltd, a unit of Net 1 UEPS Technologies Inc, in exchange for 41.137 mil new FP ordinary shares, valued at 8. 639 mil South African rands ($0.849 mil US). The shares were valued based on FP's closing stock price of 0.21 rand ($0.21) on February 17, the last full trading day prior to the announcement.
Stock swap acquisition agreement is disclosed Due diligence completed  Acquisition is completed
SOUTH AFRICA - Standard Chartered of the UK acquired the remaining 75% interest, which it did not already own, in First Africa Group Holdings Ltd, a Johannesburg- based provider of corporate and financial services.
Acquisition of remaining 75% 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
EGYPT - BLOM Bank sal of Lebanon acquired a 50% interest in Blom Egypt Securities, a Cairo-based provider of securities brokerage services.
EGYPT - Credit Agricole Egypt, a unit of Credit Agricole SA, acquired the remaining 50% interest, which it did not already own, in Egyptian Housing Finance Co, a provider of financing services, for EGP 70 mil (USD 12.7 mil).
Acquisition agreement is disclosed Agreement to acquire remaining 50% interest is completed
LIBYA - Banco Espirito Santo of Portugal acquired a 40% stake in Aman Bank, a Tripoli- based commercial bank, for LYD 53.792 mil (USD 54.061mil) in cash.
Agreement to acquire 40% is disclosed Acquisition of 40% stake is completed
LYD 53.792 mil (USD 54.061 mil) cash/40% stake
REPUBLIC OF CONGO - Byblos Bank SAL of Lebanon acquired Kinshasa-based Solidaire Banque Internationale. On completion, Solidaire Banque Internationale was renamed Byblos Bank DR Congo. Terms were not disclosed.
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
EGYPT - Banque Audi SAL of Lebanon acquired a 90% interest in Arabeya Online Brokerage Co, a Cairo-based securities brokerage firm, from Naeem holding Co and Mr. Hisham Tawfic. In June 2010, Naeem Holding Co SEA, announced that it was seeking a buyer for its 80% interest in Arabeya Online Brokerage Co.
Search for buyer for 80% inter is disclosed Acquisition of 90% interest is completed
ZIMBABWE - Nedbank Ltd, a unit of Nedcor Ltd subsidiary of Old Mutual PLCs Nedbank Group Ltd unit, raised its interest to 74% from 50%, by acquiring 24% stake, in MBCA Holdings Ltd, a Harare-based investment company.
Interest raise to 74% from 50% is completed
EGYPT - Housing & Development Bank {HDB} acquired a 51% interest in Egyptian Emirates Brokerage Co SAE {EEB}, a Giza-based securities brokerage firm. Upon completion HDB will own 20% stake and Holding Co for Investments & Development, a wholly-owned subsidiary of HDB, will own 31% stake in EBB.
Agreement to acquire 51% interest is disclosed Acquisition of 51% interest is completed
SOUTH AFRICA - Standard Bank Group Ltd acquired entire share capital of Credit Suisse Standard Securities (Pty) Ltd, a Johannesburg- based provider of equity research, sales, trading and capital markets services from its joint venture partner Credit Suisse Group.
Acquisition plans are disclosed Transaction Completed
EGYPT - Al Watany Bank of Egypt acquired El Ethad Brokerage Co, a Cairo-based securities brokerage firm.
Upper Egypt Co for Investment  and Development
EGYPT-Faisal Islamic Bank of Egypt has acquired a 5% stake (EGP 7.5 million) in the issued share capital of Upper Egypt Co for Investment and Development (EGP 150 million).
LIBYA - Qatar National Bank SAQ, acquired a 49% stake in Tripoli-based Bank Of Commerce & Development.
Plans to acquire 49% stake is disclosed Acquisition of 49% stake is completed
NIGERIA - Access Bank Nigeria PLC merged with Island Lagos- based Intercontinental Bank PLC (Intercontinental). Originally, in February 2011, Access was rumored to be planning to merge with Intercontinental.
Merger plans are rumored  Signed Memorandum of Understanding is disclosed Regulatory approval is granted  Merger is completed
SOUTH AFRICA - Mercantile Bank Holdings Ltd acquired a 51% interest in Multi Risk Investment Holdings (Pty) Ltd, a Gauteng-based investment holding company in insurance agencies for ZAF 51 mil (USD 7.446 mil) in cash.
ZAF 51 mil (USD 7.446 mil)/ 51% interest
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
NIGERIA- Sterling Bank PLC acquired Equitorial Trust Bank, a Lagos-based owner and operator of banks, in exchange to 3.141 bil Sterling ordinary shares valued at NGN 3.769 bil (USD 23.578 mil). The share was valued based on Sterling 's closing stock price of NGN (USD 0.077 on September 29, the last full trading day prior to the announcement.
Acquisition agreement is disclosed Acquiror's shareholders approv the transaction Transaction Completed  Terms are amended
MOZAMBIQUE - Absa Group Ltd of South Africa, a unit of Barclays PLC, acquired the entire share capital of Global Alliance Seguros SA, a Maputo-based insurance company.
SOUTH AFRICA - Absa Group Ltd, a unit of Barclays PLC acquired Takafol South Africa (Pty) Ltd, a Johannesburg- based provider of insurance services. Terms were not disclosed.
National Bank for Development (NOW 3A1947)
EGYPT - National Bank for Development, a wholly owned unit of Abu Dhabi Islamic Bank PSJC, acquired an undisclosed minority stake, or 2.257 mil shares, in Adelis Financial Leasing Co, an Assiut-based provider of financing services, from Assiut Islamic Trading Co, for EGP 5.55 (USD 0.931) per share in cash, or a total value of EGP 12.529 mil (USD 2.103 mil), in a privately negotiated transaction.
Agreement to acquire minority stake is disclosed Acquisition of minority stake completed
EGP 12.529 mil (USD 2.103 mil) /minority stake
REPUBLIC OF CONGO - First Bank of Nigeria Plc of Nigeria acquired 75% interest in Banque Internationale du Congo, a bank.
Acquisition of 75% interest is completed
EGYPT - A state-owned Emirates NBD Bank PJSC of United Arab Emirates, acquired a 95.2% interest in Cairo-based BNP Paribas Egypt SAE, from BNP Paribas SA, for EGP 3.083 bil (USD 500 mil). Originally, in June 2012, BNP Paribas was rumored to be seeking a buyer for its retail marketing operation. Terms were not disclosed, but according to analyst estimates, the deal was valued at an estimated EGP 3. 047 bil (USD 500 mil). Qatar National Bank, Emirates NBD Bank PJSC and Attijariwafa Bank SA were named potential bidders.
Qatar National Bank is named potential bidder Search for buyer is rumored  Definitive agreement to acquir 95.2% interest is disclosed Acquisition is completed
Divestiture Financial Acquiror Rumored Deal
NIGERIA - Skye Bank Plc (Skye Bank) acquired the entire share capital of Mainstreet Bank Ltd (MBL), a Lagos-based bank, from AMCON Inc (AMCON). Originally, in August 2012, AMCON was seeking a buyer for MBL. Skye Bank was named potential bidder. Terms were not disclosed but according to sources close to the transaction, the deal was valued at an estimated NGN 126 bil (USD 761.04 mil).
Search for buyer is disclosed  Preferred bidder disclosed  Acquisition agreement is disclosed Acquisition 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
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 - National Societe Generale Bank SAE, a subsidiary of Societe Generale SA, raised its interest to 59.994% from 40% by acquiring a 19.994% stake, or 0.16 ordinary shares, in Sogelease Egypt Co, a Cairo- based provider of financing services, from National Bank of Egypt.
Negotiations to raise interest to 60% from 40% are disclosed Interest raise to 59.994% from 19.994% is completed
SOUTH AFRICA - Absa Group Ltd, a majority-owned untr of Barclays Bank PLC (Barclays), acquired the entire share capital of Barclays Africa Ltd, a provider of retail and commercial banking and other financial services, from Barclays.
Acquisition agreement is disclosed Acquisition is completed
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
Absa Capital Ltd-Custody & Trustee Business
SOUTH AFRICA- Standard Chartered PLC acquired custody and trustee business, a provider of investment advisory services from Absa Capital Ltd, a unit of Absa Bank Ltd subsidiary of Barclays PLC. Terms were not disclosed.
Banque Internationale Pour l'Afrique au Togo SA{BIA Togo}
TOGO - Attijariwafa Bank SA of Morocco definitely acquired 55% interest in Banque Internationale Pour l'Afrique au Togo SA{BIA Togo}, a Lome-based bank, from state of Togo. Originally, in April 2009 state of Togo was seeking a buyer for its interests in BIA Togo.
Definitive agreement to acquir interest is disclosed Transaction of 55% interest is completed
SOUTH AFRICA - Standard Bank Group Ltd acquired a 22% stake in Imbewu Capital Partners (Pty) Ltd, a private equity firm.
Privately Negotiated Purchase Financial Acquiror
KENYA - Guaranty Trust Bank Plc of Nigeria acquired 70% interest in Fina Bank Ltd, a Nairobi-based commercial bank, for an estimated KES 8.675 bil (USD 100 mil).
Agreement to acquire 70% interest is disclosed Acquisition of 70% interest is completed
An estimated KES 8.675 bil (USD 100 mil)/70% interest
KENYA - Equity Bank Ltd acquired Francis Thuo & Partners Ltd, a securities brokerage firm.
EGYPT - Egyptian Gulf Bank acquired a 25.38% stake, or 0. 584 mil ordinary shares, in Arab Investment Urbanization Co, a Cairo-based provider of real estate investment services, for EGP 68.21 (USD 12.4 mil), in a privately negotiated transaction.
Acquisition of 25.38% stake is completed
Commercial International Life Insurance Co SAE
Egypt - Commercial International Bank (Egypt) SAE increased its stake to 45% by acquiring a 5% stake in Commercial International Life Insurance Co, a Cairo- based insurance company, in privately negotiated transaction.
Prime Holding for Financial Investments SAE
EGYPT - Egyptian Gulf Bank SAE raised its stake to 24% from 1.15% by acquiring a 22. 85% stake, or 16 mil ordinary shares, in Prime Holding for Financial Investments SAE, a Giza-based provider of investment services, for EGP 108 mil (USD 20.371 mil) in cash, in a privately negotiated transaction.
EGP 108 mil (USD 20.371 mil) cash/22.85% stake
Societe de Financement d'Achats a Credit
MOROCCO - Credit Immobilier et Hotelier SA completed its mandatory tender offer to increase its interest to 59. 84% from 46.21% by acquiring 13.63% stake out of the 14.5% tendered, in Societe de Financement d'Achats a Credit, a Morocco-based provider of automobile credit services, for MAD 350 (USD 41.552) per share, or a total consideration of MAD 67.606 mil (USD 8.026 mil) in cash.
Mandatory tender offer to rais from 46.21% is disclose Tender offer launched  Mandatory tender offer to rais from 46.21% is completed
MAD 67.606 mil (USD 8.017 mil) cash/13.63% stake
MOROCCO - Attijariwafa Bank SA acquired the remaining 48. 07%, which it did not already own in Attijari International Bank, a Tangier-based bank.
Acquisition of remaining 48.07 stake is completed
MOROCCO - Credit Immobilier et Hotelier SA increased its stake to 46.21% from 0.22% by acquiring a 45.99% stake, or 0.652 mil ordinary shares, in Societe de Financement d'Achats a Credit, a Morocco- based provider of automobile credit services, for MAD 350 (USD 41.662) per share, or a total consideration of MAD 228.033 mil (USD 27.144 mil) in cash, in a privately negotiated transaction.
plans to raise stake to 46.21% from 0.22% is disclosed Regulatory authority grants approval Stake raise to 46.21% from 0.22% is completed
SUDAN - Taageer Finance Co SAOG of Oman acquired a 5% stake in The Arab Leasing Co Ltd, a Khartoum-based provider of financial leasing services, in privately negotiated transaction.
IVORY COAST - Banque Centrale Populaire of Morocco acquired a 50% interest in Groupe Banque Atlantique, a France- based bank, for EUR 90.499 (USD 113.707 mil).
SOUTH AFRICA - Barclays Africa Group Ltd (Barclays Africa), a unit of Barclays Plc acquired 49% stake in Rainfin Pty Ltd, a Sandton- based provider of lending services, in a privately negotiated transactions.
MOZAMBIQUE - Ecobank Transnational Inc of Togo acquired a 96% interest in Banco ProCredit Mozambique, a MAPUTO-based bank, from ProCredit Holding AG. On completion, company changed name to Ecobank Mozambique.
Plans to acquire 96% interest are disclosed Acquisition of 96% interest is completed
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
NIGERIA - FBN Holdings PLC raised its interest to 100% from 46% by acquiring a 54% interest in Kakawa Discount House Ltd a Lagos-based provider of financial services.
Interest raise to 100% from 46 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
ALGERIA - Housing Bank for Trade & Finance PSC of Jordan, raised its interest to 85% from 61.17%, by acquiring a 23.83% stake in Dey Ibrahim- based Housing Bank for Trade & Finance, from Capital Investment Holding Co BSC, in a privately negotiated transaction.
Interest raise to 85% from 61. is completed
MAURITIUS - National Bank of Canada of Canada acquired a 9. 5% stake in AfrAsia Bank Ltd, a Port Louis-based commercial bank, in a privately negotiated transaction.
Citibank NA Egypt-Consumer Banking Business
EGYPT - Commercial International Bank Egypt SAE acquired consumer banking business of Citibank NA Egypt, a Cairo-based commercial bank, ultimately owned by Citigroup Inc. Originally, in October 2014, Citibank NA Egypt, a Cairo-based commercial bank, ultimately owned by Citigroup Inc, announced that it was seeking a buyer for its consumer banking business.
Search for buyer disclosed  Acquisition plans are disclosed Pending regulatory approval  Acquisition agreement is disclosed Regulatory authority grants ap  Acquisition is completed
Mauritius Commercial Bank (Mocambique) SA
MOZAMBIQUE - Societe Generale SA of France acquired a 65% interest in Mauritius Commercial Bank (Mocambique) SA, a Maputo-based commercial bank, from Mauritius Commercial Bank Ltd, owned by MCB Investment Holding Limited, ultimately owned by MCB Group Limited.
Pending regulatory approval  Agreement to acq undisclosed m  Acquisition of 65% interest is
IVORY COAST - National Bank of Canada of Canada acquired a 20.9% stake in NSIA Participations SA, an Abidjan- based direct life insurance carrier, from ECP Africa Fund III PCC, a unit of Emerging Capital Partners LLC, in a privately negotiated transaction.
Pending regulatory approval  Agreement to acquire 20.9% sta disclosed Regulatory authority grants ap  Acquisition of 20.9% stake is
EGYPT - Al Ahli Bank of Kuwait KSC of Kuwait acquired a 98.5% interest in Piraeus Bank Egypt SAE, a Cairo-based commercial bank, from Bank of Piraeus SA, ultimately owned by the Greek state-owned Hellenic Financial Stability Fund, for a total EGP 1.145 bil (USD 150 mil).
Plans to acquire 98.5% interes are disclosed Pending regulatory approval  Kuwait Central Bank grants app  Egyptian Central Bank grants a  Acquisition of 98.5% interest
KENYA - Barclays Africa Group Ltd of South Africa, a unit of Barclays PLC, acquired a 63.3% interest in First Assurance Ltd, a Nairobi- based special purpose finance company, for a total KES 2.9 bil (USD 29.742 mil).
DEM REP OF THE CONGO - Equity Bank Ltd of Kenya acquired a 79% interest in ProCredit Bank Congo SARL, a Kinshasa/ Gombe-based commercial bank, from the Belgian state-owned Belgische Investeringsmaatschappij voor Ontwikkelingslanden NV and DOEN Foundation and ProCredit Holding AG.
MAURITIUS - National Bank of Canada, raised its stake to 17.5%, from 9.5%, by acquiring an 8% stake in AfrAsia Bank Ltd, a Port Louis-based commercial bank, in a privately negotiated transaction.
IVORY COAST - Attijariwafa Bank SA of Morocco raised its interest to 90%, from 51%, by acquiring a 39% stake in Societe Ivoirienne de Banque, an Abidjan-based commercial bank, from the Republic of Cote d'lvoire, for XOF 33 bil (USD 56.133 mil), in a privately negotiated transaction. Originally, in December 2014 Republic of Cote d'lvoire announced that it was seeking a buyer for 49% stake in Societe Ivoirienne de Banque and Attijariwafa Bank agreed to raise its interest to 75%, from 51%, by acquiring a 24% stake in Societe Ivoirienne de Banque.
Search for buyer for 49% stake  Attijariwafa Bank SA is named  Agreement to raise stake to 75  Agreement to raise stake to 90  Interest raise to 90% from 51%
XOF 33 bil (USD 56.232 mil) cash/39% stake
Banque Internationale pour l'Afrique au Niger
NIGER - Banque Centrale Populaire SA of Morocco acquired a 53% interest in the state-owned Banque Internationale pour l'Afrique au Niger (BIA-Niger), a Niamey-based commercial bank, from Republic of Niger and Tahirou Mangal, for a total XOF 14.594 bil (USD 24.518 mil). Originally, Banque Centrale Populaire was rumored be planning to acquire 65% interest in BIA- Niger. Concurrently, Atlantic Business International SA of Ivory Coast, a unit of Banque Centrale Populaire, planned to acquire a 17% stake in BIA- Niger, in a privately negotiated transaction.
TUNISIA - Tunisie Leasing SA raised its interest to 93.34%, from 56.98%, by acquiring a 36.36% stake in Tunisie Factoring SA, a Tunis Mahrajene-based provider of nondepository credit intermediation services, from Credit Agricole Leasing & Factoring SA, a unit of Credit Agricole SA, in a privately negotiated transaction.
SOUTH AFRICA - Absa Group Ltd acquired a 75% interest in Instant Life, an online direct life insurance carrier.
EGYPT - Attijariwafa Bank SA of Morocco acquired the entire share capital of Barclays Bank Egypt SAE, a Cairo-based commercial bank, for EGP 4.396 bil (USD 494. 997 mil).
Merger plans are rumored  Merger agreement is disclosed  Pending regulatory approval  Regulatory authority grants ap  Merger is completed
MALI - Banque Marocaine du Commerce Exterieur BMCE Bank SA of Morocco raised its interest to 72.7%, from 65. 02%, by acquiring a 7.68% stake in Bank of Africa, a Bozola Bamako-based commercial bank, in a privately negotiated transaction.
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
EGYPT - FIMBank PLC of Malta acquired the remaining 60% interest, which it did not already own, in Egypt Factors SAE, a Cairo-based provider of nondepository credit intermediation services, from its joint venture partners International Finance Corp and Commercial International Bank Egypt SAE.
MALAWI - MyBucks SA of Luxembourg acquired a 50% interest in New Finance Bank Malawi Ltd, a Lilongwe-based commercial bank.
KENYA - Diamond Trust Bank Kenya Ltd acquired the entire share capital of Habib Bank Ltd, a Mombasa-based commercial bank, from Habib Bank Ltd, owned by Aga Khan Fund for Economic Development.
MOROCCO - Banque Centrale Populaire SA acquired a 16% stake in MAMDA/MCMA, a Rabat- based insurance agency, for a total MAD 100 mil (USD 10.601 mil), in a privately negotiated transaction.