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Abu Dhabi’s IPIC Said to Get $1.9 Billion-Loan for Acquisition

International Petroleum Investment Co., an Abu Dhabi government-controlled investor, borrowed $1.9 billion from Abu Dhabi Commercial Bank PJSC, two bankers familiar with the transaction said.

IPIC, as the company is known, will use the money to fund the acquisition by subsidiary Aabar Investments PJSC of a 24.9 percent stake in Malaysian lender RHB Capital Bhd, the bankers said, declining to be identified because the information is private. Aabar announced the purchase of the RHB stake from ADCB for 5.9 billion ringgit ($1.9 billion) in June.