Qatar's Commercial Bank agrees to sell stake in UAE's UAB to Tabarak- sources | ZAWYA MENA Edition:
"Commercial Bank COMB.QA , Qatar's third largest bank by assets, has agreed, in principle, to sell its 40 percent stake in Abu Dhabi-listed United Arab Bank UAB.AD to United Arab Emirates-based Tabarak Investment, sources told Reuters on Tuesday. The sale will be finalised shortly with a formal announcement to be made next month, the sources said, declining to be named as the matter is not yet public. Commercial Bank is exiting the UAE at a time when Qatar faces off against Saudi Arabia, United Arab Emirates, Bahrain and Egypt in a regional diplomatic and commercial rift. Commercial Bank has said it is not being pressured to sell as a result of the row and is planning to re-invest the proceeds from the sale into its business in Qatar and Turkey, where it owns Alternatifbank. "
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