ASA/ABSP - Absa Group Limited/Absa Bank Limited - Bank of Namibia declines
JSE ABSP ASA
ABSP AMAGB
ASA/ABSP - Absa Group Limited/Absa Bank Limited - Bank of Namibia declines
application of Absa Group to acquire a majority interest in Bank Windhoek
ABSA GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/003934/06)
ISIN: ZAE000067237
JSE share code: ASA
Issuer code: AMAGB
(Absa Bank)
ABSA BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/004794/06)
ISIN: ZAE000079810
JSE share code: ABSP
(Absa or Absa Group)
BANK OF NAMIBIA DECLINES APPLICATION OF ABSA GROUP TO ACQUIRE A MAJORITY
INTEREST IN BANK WINDHOEK
On 19 February 2010 Absa Group and Capricorn Investment Holdings reached a non-
binding agreement to allow Absa Group to pursue an acquisition of a majority
stake in Capricorn Investment Holdings. This was subject to certain conditions,
including regulatory approval and the completion of a successful due diligence
process.
The due diligence was successfully completed in April 2010.
However, the Bank of Namibia today informed both parties that it has declined
the acquisition as it believes a decision to approve will not support its
initiatives to increase local participation in the financial system as a whole.
Absa is obviously disappointed at this turn of events, and will now study the
decision.
This announcement is for information purposes only and is not required in terms
of the JSE Listings Requirements.
Johannesburg
2 July 2010
Enquiries:
David Hodnett - Group Financial Director
011 350-2623
Sponsor:
J.P. Morgan Equities Limited
Date: 02/07/2010 17:19:01 Produced by the JSE SENS Department.
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