Official: Carlyle Group Invests $147 million in Diamond Bank

Diamond Bank Just Issued the following press release;

The Carlyle Group invests in Diamond Bank Plc

Lagos, Nigeria – Diamond Bank Plc (NGSE: DIAMONDBNK) hereby informs the Nigerian Stock Exchange that Global Alternative Asset Manager, The Carlyle Group (NASDAQ: CG) through its Carlyle Sub-Saharan Africa Fund, has invested $147 million in Diamond Bank Plc. This investment was made possible through purchase by the company of rights traded on the floor of the Nigerian Stock Exchange in the Bank’s recently completed (NGN 50 billion) rights issue.

Reports already suggest Diamond Bank’s rights issue was fully subscribed. Therefore, going by this press release, it appears nearly half of that subscription was purchased by Carlyle Group.