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Islamic Finance Briefing - Categorized | Banking, Capital Market (Equity, Mutual Funds), Investment more

QNB eyes major stake in Bank Kesawan

Posted on 03 September 2010

From Thepeninsulaqatar.com: Qatar National Bank Group (QNB) and Bank Kesawan recently signed a “Letter of Intent” which, when complete, would make QNB the “Standby Buyer” for a planned rights issue and may result in QNB Group becoming the controlling shareholder of the Indonesia-based bank.
The conclusion of the transaction remains subject to regulatory and shareholder approvals in Indonesia and upon the completion of an already initiated due diligence process, by an independent third party. The rights issue is expected to close in the first quarter of 2011……………………………………….Full Article: Source

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