Font Size

- Aa +

Wed 15 Dec 2010 03:18 PM

Font Size

- Aa +

Abu Dhabi Group contacts buyers for United Bank stake sale

'We confirm having received an unsolicited offer for our shares in United Bank'

Abu Dhabi Group contacts buyers for United Bank stake sale
STAKE SALE: Abu Dhabi Group contacted buyers to gauge their interest in buying its stake in Pakistan’s United Bank (Getty Images)

Abu Dhabi Group contacted buyers to
gauge their interest in buying its stake in
Pakistan’s United Bank, the nation’s third-biggest lender.

“We confirm having
received an unsolicited offer for our shares in United
Bank,” Abu Dhabi Group said in a
letter to United Bank.

United Bank
sent a copy of that letter to the stock exchange on Wednesday.

“We have privately initiated contact with certain other buyers to solicit their interest in buying our stake.”

 

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.