Carlyle and JC Flowers are among private equity firms that have placed first-round bids for a 25% stake in Malaysian lender, RHB Capital, Reuters reports. Japan’s Sumitomo Mitsui Financial Group has also offered to acquire the stake in the Kuala Lumpur-based lender.
The stake, which is being sold by Abu Dhabi Commercial Bank (ADCB), has a market value of $1.6 billion. ADCB is being advised by Goldman Sachs and Bank of America-Merrill Lynch on the stake sale.
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