Cape Town - Barclays on Thursday said it was pleased with the level of interest in Barclays Africa.
This comes days after the parent company's former chief executive Bob Diamond confirmed he was interested in buying the African business.
In a statement about first quarter performance, Barclays said it was “pleased with the level of indicative interest in what is a high quality business”.
It added: “Barclays Africa is an important partner, and we are working closely with local management, including on the planning for the operational separation of the two businesses, in a way that will preserve value for shareholders in both groups.”
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Diamond this week confirmed rumours that his company, Atlas Merchant Capital, was working on a bid with African investment company Mara Group and US equity group Carlyle for 62.3 percent of Barclays Africa owned by the British parent.
A bidding war with other possible suitors, expected to include the Public Investment Corporation (PIC), for part or all of the stake is now likely.
In January, before Barclays confirmed its intention to sell down its stake, PIC chief executive Daniel Matjila, was quoted as saying that the PIC, which manages about R1.5 trillion in assets for the Government Employees Pension Fund, was keen to increase its stake in Barclays Africa should the parent decide to sell.
Read also: Diamond confirms Barclays rumours
Matjila described a possible sale as “an opportunity for South Africans to take advantage and create a South African champion”.
Barclays confirmed speculation in early March that it was preparing to exit. A statement from Barclays Africa at the time said the decision was “due to recently introduced regulatory burdens specific and particular to Barclays Plc as a UK-headquartered and globally significant financial institution”.
Maria Ramos, Barclays Africa CE, was quoted as saying: “We continue to offer a full and integrated range of products and services to more than 12 million customers in 12 countries across Africa, and our customers can be just as confident doing business with us today as they have always been.
“With an independent board and a separate listing on the Johannesburg Stock Exchange we are deeply rooted in Africa and remain firmly in control of our future.”
As Barclays’s former chief executive, the US-born Diamond is familiar with the asset he is looking at buying.
Even in the context of the parent company's exit and recent news that Old Mutual is demerging, Diamond is said to believe that now is the time to be investing in Africa.
AFRICAN NEWS AGENCY