First Abu Dhabi Bank PJSC has denied reports that it is evaluating any possible offer for a stake in YES Bank, Reuters reported on July 11.
Yesterday, Bloomberg reported that First Abu Dhabi Bank PJSC was among potential suitors for a roughly $5 billion stake in the Indian bank. The report suggested that the Middle Eastern lender was considering a bid for up to a 51 percent stake in YES Bank, citing sources.
The potential stake sale has also drawn preliminary interest from Japan, including Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. However, it remains unclear how strong their interest is and whether they will proceed with a deal, according to the report.
