Abu Dhabi sells ABC bank stake to Libya

Libya acquired a stake in Abu Dhabi’s sovereign wealth held, Bahrain-based Arab Banking Corporation(ABC), bringing its stake in Bahrain’s second largest bank to almost 60 percent, the bank said on Thursday.

The bank said in a regulatory filing that the Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds, sold its 17.7 percent stake in ABC to the central bank of Libya for an undisclosed sum.

ABC had assets worth $26bn on its balance sheet at the end of the third quarte....read more

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