MCB Bank to Acquire RBS Pakistan for $87 Million
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MCB Bank Ltd., Pakistan’s biggest lender by market value, agreed to acquire Royal Bank of Scotland Group Plc’s Pakistan unit for about $87 million to increase branches and its expertise in financial transactions.
MCB Bank will buy 1.7 billion shares, or a 99.4 percent stake, at 4.22 rupees apiece before making an offer for the remainder, the company said in a statement to the Karachi Stock Exchange today.