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HSBC’s Saudi unit to buy RBS venture in $5b stock deal
HSBC Holding Plc’s Saudi Arabia unit offered to pay a 29 per cent premium to acquire Royal Bank of Scotland Group Plc’s local venture in a $5 billion (Dh18.3 billion) stock deal. In the preliminary agreement between RBS-backed Alawwal Bank and Saudi British Bank, Alawwal shareholders will receive 0.485 SABB…
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Click here to read the full story: Gulf News