SVB (SIVB) and Royal Group: UAE's Sheikh Tahnoon bin Zayed Al Nahyan - Bloomberg
Royal Group, an investment firm controlled by a top Abu Dhabi royal, is considering a possible takeover of the UK arm of Silicon Valley Bank following its collapse last week, according to people familiar with the matter.
The conglomerate, chaired by United Arab Emirates National Security Adviser Sheikh Tahnoon bin Zayed Al Nahyan, is discussing a potential buy-out through one of its subsidiaries, said the people, who asked not to be identified because the discussions are private.
No final decision has been made and a bid may not be tabled. Representatives for Royal Group didn’t immediately respond to requests for comments outside of normal working hours.
The turmoil at Silicon Valley Bank UK is spilling over into the nation’s technology sector, stoking concern among startups and venture-capital firms worried about losing access to funds sitting at the lender. While the lender is small compared to the UK’s largest banks, it plays an outsized role in the world of startups, describing itself on its website as “the go-to banking partner for founders, entrepreneurs and investors.”
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