Slaughter and May is advising Atlas Mara on its subscription for shares in Banque Populaire du Rwanda (BPR), and the subsequent merger of Atlas Mara’s wholly owned subsidiary BRD Commercial Bank Ltd (BRDC) with BPR. The transaction is subject to customary conditions and local regulatory approval and is expected to complete by the end of the year.

Following completion of the transaction, it is intended that BRDC will be merged with BPR to create Rwanda’s second largest bank by assets, with Atlas Mara retaining a majority interest in the enlarged BPR entity.

CONTACTS

Corporate and Commercial: Richard Smith (partner), Robert Innes (partner), Natalie Cook (associate), Jack Gray (associate); Tax: Gareth Miles (partner), Homyar Pahlan (associate)