Deals

Atlas Mara Deal With Kenya’s Equity Group Holdings Expires

Atlas Mara, Equity Group commit to reaching deal in early 2020
Firm planned to swap four African units for Equity Group stake

Bob Diamond
Photographer: Victor J. Blue/Bloomberg

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By Vernon Wessels and Bella J. Genga

January 2, 2020 at 6:52 AM UTC

Updated on

January 2, 2020 at 2:24 PM UTC

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Bob Diamond’s plans to scale down his business in Africa are being delayed after Atlas Mara Ltd. failed to agree on initial terms for Kenya’s Equity Group Holdings Plc to takeover some of its operations, with both companies committing to reaching a deal early this year.