Aabar to buy RHB stake from ADCB

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Abu Dhabi Commercial Bank (ADCB) agrees to sell 24.9% stake of RHB Capital Berhad (RHB) to Aabar Investments (Aabar). The signing ceremony was witnessed by the Crown Prince of Abu Dhabi, General Sheikh Mohammed bin Zayed Al Nahyan and YAB Dato’ Sri Mohd Najib Tun Abdul Razak, the Prime Minister of Malaysia. Other senior officials also attended from among the UAE and Malaysian officials. ADCB Chairman, Isa Al Suwaidi, stated that ADCB helped RHB grow in business and thanked the Malaysian government for their constant support. Aabar’s Chairman Khadim Al Qubaisi said that he was confident that Malaysian banking sector will achieve rapid growth and the company aims to further expand its financial service arm.

Source: Emirates 24/7

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