ADCB selling stake in RHB Capital

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ADCB selling stake in RHB CapitalAbu Dhabi Commercial Bank is selling a 25% stake in Malaysian bank RHB Capital.  It is valued at about $1.6 billion.  They will announce a shortlist of potential bidders on the stake after their annual ADCB shareholders meeting scheduled for the end of the month, but several international companies are rumored to be interested in acquiring the shares.  Japanese corporation Sumitomo Mitsui Financial Group is said to be planning a bid, along with equity companies Carlyle and JP Flowers.  None of the companies were available to comment on the rumors.  Malaysian lender CIMB Group was also thought to be interested, but they have confirmed they will not be pursuing an offer to ADCB.

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Abu Dhabi Commercial Bank is selling a 25% stake in Malaysian bank RHB Capital.  It is valued at about $1.6 billion.  They will announce a shortlist of potential bidders on the stake after their annual ADCB shareholders meeting scheduled for the end of the month, but several international companies are rumored to be interested in acquiring the shares.  Japanese corporation Sumitomo Mitsui Financial Group is said to be planning a bid, along with equity companies Carlyle and JP Flowers.  None of the companies were available to comment on the rumors.  Malaysian lender CIMB Group was also thought to be interested,...

Reading Time: 1 minute

ADCB selling stake in RHB CapitalAbu Dhabi Commercial Bank is selling a 25% stake in Malaysian bank RHB Capital.  It is valued at about $1.6 billion.  They will announce a shortlist of potential bidders on the stake after their annual ADCB shareholders meeting scheduled for the end of the month, but several international companies are rumored to be interested in acquiring the shares.  Japanese corporation Sumitomo Mitsui Financial Group is said to be planning a bid, along with equity companies Carlyle and JP Flowers.  None of the companies were available to comment on the rumors.  Malaysian lender CIMB Group was also thought to be interested, but they have confirmed they will not be pursuing an offer to ADCB.

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