UAE: FAB walks away from Stan-Chart, others may be interested

Issue 1161 - 15 Jan 2023 | 1 minute read

First Abu Dhabi Bank (Fab) has decided to not to pursue its interest in taking over UK-registered, London Stock Exchange (LSE)-listed Standard Chartered, having retained bulge-bracket Citigroup and New York-based investment bank Moelis and Company in 2022 to explore potential international takeovers or investments. StanChart was said to be the prime target.

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