Abu Dhabi Commercial Bank (ADCB) has hired Goldman Sachs to sell its 25% stake in Malaysian bank RHB Capital valued at US$1.4 billion, two sources with direct knowledge of the matter told Reuters on Saturday.
ADCB had shortlisted three to four banks and was still deciding whether to appoint a second adviser for the sale, sources added.
The proposed sale is expected to draw interest from Chinese banks and other Asian buyers due to Malaysia's rapidly growing economy, though lack of control could deter strategic buyers from bidding aggressively, sources said.
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