Absa Group Limited - Announcement Of The Sale Of B
ASA
AMAGB
Absa Group Limited - Announcement Of The Sale Of Bankhaus Wolbern
ABSA GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1986/003934/06
("Absa")
JSE Code: ASA
Issuer code: AMAGB
ISIN Code: ZAE000067237
ANNOUNCEMENT OF THE SALE OF BANKHAUS WOLBERN
Absa is pleased to announce that it has agreed to sell Bankhaus Wolbern, its
German private banking and closed-end fund initiation business, to the prominent
Hamburg-based businessman and private equity investor, Professor HM Schulte.
Absa announced its intention to sell Bankhaus Wolbern in 2005, soon after
Barclays took a majority stake in the South African-based bank. The sale is
consistent with Absa"s strategy to refocus its business activities in Africa.
Absa purchased Bankhaus Wolbern in 1995 and transformed the bank into one of
Germany"s leading initiators of closed-end real estate funds.
UBS and Clifford Chance advised Absa on the transaction. The sale is conditional
on, inter alia, German and South African regulatory approval.
Enquiries:
Jacques Schindehutte 2711 350-4850
Dean You Lee 2711 350-9108
Issued by:
Sue Steyn
Investor Relations
Absa Group Limited
4th floor, Absa Towers East, 170 Main Street, Johannesburg.
Tel: 2711 350-4394. Fax: 2711 350-6487
E-mail: sues@absa.co.za
Date: 20 January 2006
Lead Sponsor to Absa
Merrill Lynch South Africa (Proprietary) Limited
Date: 20/01/2006 01:00:03 PM Produced by the JSE SENS Department
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