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.
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