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ADCB To Sell $1.6B RBH Stake To Aabar

Abu Dhabi Commercial Bank is seeking to sell its stake in RHB to Abu Dhabi investment fund, Aabar.

Abu Dhabi Commercial Bank (ADCB) is seeking to sell its stake in RHB to Abu Dhabi investment fund, Aabar, Reuters reports. The Abu Dhabi lender’s 25% stake in RHB is valued at around $1.6 billion.

Malaysian lenders Maybank and CIMB had also submitted their bids to acquire the stake. ADCB has appointed Goldman Sachs and BofA-Merrill Lynch as advisors on the transaction.

Click here for the story from Reuters.

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