ADCB buys $1.2bn stake in RHB Capital
United Arab Emirates: Thursday, May 08 - 2008 at 10:10
Abu Dhabi Commercial Bank is buying 25% of RHB Capital for 3.9 billion ringgit ($1.2bn) in the largest overseas investment in a Malaysian bank, reported Bloomberg. ADCB is to pay 7.20 ringgit for each share of Malaysia's fourth-largest bank, Employees Provident Fund, the pension fund that's selling the stake, a 38% premium over the stock's closing price on Wednesday.
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Jeff Florian, Senior ReporterThursday, May 08 - 2008 at 10:10 UAE local time (GMT+4)
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