Deals
Abu Dhabi Bank Deal Said Likely to Be Merger, Not Takeover
- Banks’ key shareholders said to be in daily talks on the deal
- Emirate said keen to build banking champion to expand overseas
Abu Dhabi Bank Deal a Merger, Not a Takeover
This article is for subscribers only.
Abu Dhabi’s planned merger of two of its largest banks is unlikely to be structured as a takeover of National Bank of Abu Dhabi PJSC by First Gulf Bank PJSC, according to people familiar with the matter.
The emirate may structure the deal as a merger of equals, one of the people said, with two of the people familiar saying it would be unlikely that FGB takes over NBAD as some analysts have speculated. No final decision has been made on the structure of the deal and talks are ongoing, the people said.