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ADG, UBL in talks for stake sale

KARACHI: Abu Dhabi Group (ADG) has privately initiated contacts with certain buyers to sell its shares to United Bank Ltd. In a communiqué sent to Karachi Stock Exchange (KSE) here on Wednesday, UBL said that it has received intimation from ADG that it has received an unsolicited offer for its stake in UBL.
At the same time, ADG has also initiated effort to seek offers for its interest in UBL from other parties. It may be noted that ADG has 30 per cent stake in UBL. -APP


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