PIC has appetite for bigger Barclays Africa stake, says CEO Dan Matjila
THE Public Investment Corporation (PIC), Africa’s largest money manager, says it is interested in boosting its holding in Barclays Africa and is still considering the best partner to team up with for a bid."There is appetite from our side to increase our stake," Dan Matjila, CEO of the PIC, said in an interview in Pretoria on Tuesday."We’re still assessing which is the best partner to go with and the best partner with cash." He said the ideal co-investors would be South African, or if international, a partner who backed South Africans.The PIC’s plan to form a consortium of black shareholders to buy a stake had been hindered because the South African investors were struggling to raise financing, people familiar with the matter said last month.While earlier this year the PIC faced competition for the shares, US private equity company Carlyle Group has now withdrawn from bidding with Bob Diamond’s Atlas Merchant Capital, the former Barclays CEO said last month.Abraaj Group is also no l...
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