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MCB and HBL to acquire shareholding of RBS Pakistan
RECORDER REPORT
 Monday, 13 Apr, 2009 1:29 pm
KARACHI : MCB Bank Limited and Habib Bank Limited (HBL) have expressed interest to acquire the shareholding of Royal Bank of Scotland (RBS) in RBS Pakistan. The MCB Bank has also applied to State Bank of Pakistan (SBP) for obtaining approval to commence the due diligence of RBS Pakistan, an information sent to Karachi Stock Exchange said.

The HBL, in a separate information said that HBL shall be applying to the SBP for obtaining approval to commence the due diligence of RBS Pakistan. The Royal Bank of Scotland Group, PLC is divesting its interest from its operations in the Asian region, which regions includes all the assets and the undertaking of the Royal Bank of Scotland Limited (formerly ABN Amro Bank (Pakistan) Limited (RBS Pakistan).

HBL and MCB on Monday notified the Karachi Stock Exchange that upon being granted the requisite permission by the SBP, HBL and MCB shall commence the said due diligence in order to evaluate HBL's and MCB's offer for the acquisition of the shareholding of RBS in RBS Pakistan.



Copyright Business Recorder, 2009


   
   
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