Abu Dhabi News: Bank Taps Lazard on NMC Health, Finablr Advice - Bloomberg:
Abu Dhabi Commercial Bank PJSC hired Lazard Ltd. to advise on its exposure to NMC Health Plc and Finablr Plc, as the companies’ financial troubles mount, people familiar with the matter said.
The boutique bank will help recover some of the funds the state-owned lender provided to the struggling hospital operator and financial services firm, one of the people said, asking not to be identified because the matter is private.
Abu Dhabi Commercial Bank is currently seen as one of the biggest creditors to NMC with more than $1 billion of exposure, people with knowledge of the matter said on Tuesday. It’s also a lender to payments firm Finablr, which is linked to NMC through its founder and cross-ownership, the people said.
Representatives for Lazard and ADCB declined to comment.
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