Buyout firm Carlyle in talks with former Barclay's CEO Bob Diamond for Africa arm bid

Billy Bambrough
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Bob Diamond has been building up stakes in African banks since late 2013 (Source: Getty)

Carlyle, the US buyout group, is in early stage talks with one of Bob Diamond’s investment vehicles over a bid for Barclays Africa.

Diamond, who resigned as Barclays’ chief executive amid the Libor scandal, will use his New York-based investment vehicle, Atlas Merchant Capital, to jointly fundraise with Carlyle.

Barclays announced last month it would seek to sell down most of its 62.3 per cent stake in Barclays Africa Group, which has a market value of almost £6bn.

Diamond and Carlyle have yet to make a formal bid for the assets and bid preparations, first reported by Sky News, are still at an early stage.