IPIC Repays RHB Capital Stake Loan
Abu Dhabi’s International Petroleum Investment Company (IPIC) has repaid a US$ 2 billion loan that Aabar Investments PJSC took out in 2011. Aabar Investments, part of IPIC, took out the loan to pay for a 25% stake in RHB Capital Bhd, a Malaysian bank, for US$ 1.9 billion.
The 2011 transaction was financed by the seller, Abu Dhabi Commercial Bank.
RHB Capital is a publicly traded company. Malaysia’s Employees’ Provident Fund (EPF) is the top shareholder of RHB Capital followed by Aabar. There have been rumors of a possible takeover by the EPF.
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