Brief: FAB Announces Sale Of A 60% Stake In Magnati To Brookfield Business Partners

Brookfield Business Partners LP

28/02/2022 05:07

Feb 28 (Reuters) - FIRST ABU DHABI BANK  FAB.AD :
    * FIRST ABU DHABI BANK ANNOUNCES SALE OF A 60% STAKE IN
MAGNATI TO
BROOKFIELD BUSINESS PARTNERS
    * IMPLIED VALUATION FOR MAGNATI OF UP TO $1.15 BILLION
    * WILL RETAIN 40% STAKE IN MAGNATI
    * UPON COMPLETION, PROCEEDS FROM SALE WILL BE USED TO
SUPPORT
BANK'S GROWTH AND TRANSFORMATION PLANS
    * MAGNATI WILL RETAIN ITS HEADQUARTERS IN THE EMIRATE OF ABU
DHABI

Source text for Eikon:  ID:nADXE61365 
Further company coverage:  FAB.AD 

 ((Reuters.Briefs@thomsonreuters.com;))