Following
the investment of $147 million in Diamond Bank Plc by the Carlyle Group, the
Washington-based financial institution currently has 18 per cent stake in the
Nigerian commercial bank, a report revealed Tuesday.
The
investment was made possible through the company’s purchase of Diamond Bank’s
recent rights issue.
The
18 per cent stake is however higher than the 14.8 per cent previously held by
Actis.
Commenting
on the transaction, Banking Analyst at Renaissance Capital, Mr. Adesoji Solanke
described it as positive for Diamond Bank’s equity story.
“To
acquire such a
