Atlas Mara exits two markets

Atlas Mara agreed to sell its Rwandan and Tanzanian operations as the lender started talks with debtholders about upcoming repayments.

Kenya’s KCB Group will buy a 62.06% stake in the Rwanda business and Atlas Mara’s Tanzanian unit to expand its operations in the, the company said. It agreed to pay 1.09 times book value for Banque Populaire du Rwanda.