AFG Holding, the banking group owned by Atlantic Group, has agreed to acquire a 74.48% stake in AfrAsia Bank from IBL and National Bank of Canada, pending regulatory approval. The acquisition would see AfrAsia Bank, the third-largest bank in Mauritius, fall into the hands of AFG Holding, owned by Ivorian billionaire Koné Dossongui. AFG Holding says the deal fits into its strategy to develop a major pan-African banking group offering a wide range of sophisticated financial services.