HONG KONG: The government of Pakistan will sell its stake in United Bank Ltd for up to 42 billion rupees (US$426.27mil) today, a person with direct knowledge of the deal said, as the cash-strapped state seeks to raise funds by selling assets.
The United Bank deal forms part of an initiative announced earlier this year in which Privatisation Commission chairman Mohammad Zubair was tasked with finding buyers for 68 companies, including 10 banks.
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