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Pakistan government to sell United Bank stake for up to $423 million -IFR
June 10, 2014 / 7:42 AM / 3 years ago

Pakistan government to sell United Bank stake for up to $423 million -IFR

HONG KONG, June 10 (Reuters) - The government of Pakistan will sell its 19.8 percent stake in lender United Bank Ltd for up to 42 billion Pakistani rupees ($426.27 million) on Wednesday, IFR magazine reported on Tuesday.

The deal forms part of an initiative announced earlier this year in which the government will sell stakes in 65 state-owned companies.

Arif Habib, Credit Suisse and Elixir Securities will manage the United Bank deal, said IFR, a Thomson Reuters publication.

The relevant officials at United Bank and the Pakistan government did not immediately respond to calls for comment. ($1 = 98.5300 Pakistani Rupees) (Reporting by S. Anuradha of IFR; Writing by Lawrence White; Editing by Miral Fahmy)

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