Angola's AAA Activos and Standard Bank agree deal
Tuesday, 24 July 2012 16:28
South Africa's Standard Bank has entered a strategic partnership with Angolan insurance and fund management firm AAA Activos
The bank has announced that the agreement will see it take control of 51 per cent of the new shareholding structure in Angola, with AAA Activos holding the remaining 49 per cent.
According to Reuters, the deal involved a capital increase that was recently approved by Angola's central bank
Standard Bank did not disclose the value of the deal.