-Temasek to sell stake in NIB Bank.
Global Banking News - 29 December 2011
Singapore state investment firm Temasek Holdings Pte Limited is planning to sell its majority stake in Pakistan's NIB Bank Limited (NIB.KA), Dow Jones has reported, citing a separate report by The Business Times.
Temasek currently holds 9.13 billion shares, or an 88.6 percent stake, in NIB through its wholly owned, indirect subsidiary, Bugis Investments (Mauritius), the report said.
The move comes as the NIB bank has registered a cumulative net loss of PKR17bn (SGD243m) since Temasek first invested in the bank in 2005, the report noted.
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