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Aabar Gets $1.9B Loan For RHB Stake Deal

Dubai sovereign wealth fund Aabar will receive a $1.9 billion loan from Abu Dhabi Commercial Bank.

Dubai sovereign wealth fund Aabar will receive a $1.9 billion loan from Abu Dhabi Commercial Bank (ADCB), Reuters reports. Aabar will use the loan to pay for its acquisition of ADCB’s 25 percent interest in Malaysian group RHB Capital.

International Petroleum Investment Co., Aabar’s parent, secured the loan from ADCB by using its deposits with the bank as collateral. In June, the wealth fund had agreed to purchase ADCB’s stake in RHB in a $1.9 billion transaction.

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