Abu Dhabi Commercial Bank (ADCB) plans to sell its RHB stake to Abu Dhabi investment fund Aabar and has won Malaysian central bank approval to start talks, it said on Sunday.
The Abu Dhabi lender, whose 25-percent stake in RHB is valued at around $1.6 billion, had held a first round auction to sell the stake, drawing wide interest.
But proposed takeover bids for RHB itself from Malaysian rivals Maybank and CIMB put a spanner into the works.
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