Abu Dhabi's Mubadala sells 3% stake in RHB Bank

The bank is considering selling its 17-storey location in the city-state

PETALING JAYA: Abu Dhabi sovereign wealth fund Mubadala Investment Co has sold off an estimated 3% of its stake in RHB Bank Bhd, following through on its plans to sell its non-core assets to both global and local investors.

The stake sale, via Mubadala’s unit Aabar Investments PJS, breaks staunch resistance where Aabar in the past did not see through the sale of its 17.8% block in RHB Bank, claiming that it wanted to recoup the value of the block.