Atlas Mara Group, the pan-African banking group started by Bob Diamond, has drawn interest from Nigerian and Middle Eastern lenders for its remaining assets on the continent.

The London-listed group has received a number of offers for its 49.97% stake in Union Bank of Nigeria Plc, according to reports.

Zenith Bank and Access Bank are among the list of financial institutions from Africa and the Middle East to indicate interest in the acquisition of Union Bank and other African assets of Atlas Mara Group, a Pan-African banking group.

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Middle Eastern banks and private equity suitors have also shown interest as some potential buyers have indicated they may acquire all of Atlas Mara’s remaining assets in Africa, which would include its Zimbabwe unit, the people said.

Although no final decision has been taken yet as there is still a lot of uncertainty around the discussions, Atlas Mara has been working with Rothschild & Co. to consider options for its Union Bank stake, the report suggests.

Atlas Mara Group on Wednesday said that it has secured regulatory approval for the sales of its businesses in Botswana and Mozambique and received interest in other assets, without going into details.

The Group also said it completed a planned restructuring exercise and extended a standstill agreement with its creditors to May 17 to complete necessary documentation just as it added that it is still in legal disputes with two creditors, TLG and Norsad.

Atlas Mara Limited saw the need to reposition its operation due to the coronavirus pandemic which has negatively impacted its business and seen its shares crash by about 96% since it started trading towards the end of 2013.

The firm’s stake in UBN, Nigeria’s sixth-biggest bank by market value, is its largest investment and seen as a foothold into the continent’s most populous nation.