Abu Dhabi bank buys RHB stake for 7.20 rgt p/shr
PUTRAJAYA, Malaysia, May 8 (Reuters) - Abu Dhabi Commercial Bank ADCB.AD has agreed to buy 25 percent of Malaysia's fourth-largest lender, RHB Capital Bhd (RHBC.KL: Quote, Profile, Research, Stock Buzz), for 7.20 ringgit a share, the seller said on Thursday.
Malaysia's state pension fund, RHB Capital's controlling shareholder, said it was selling the stake for a total of 3.88 billion ringgit ($1.23 billion). It made the announcement ahead of a signing ceremony for the deal in Putrajaya. (Reporting by Clarence Fernandez, editing by Niluksi Koswanage)
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