Network of international brands with GCC stakeholders
Twists and turns of the global economic landscape has seen Middle Eastern companies gaining more stake in international brands. And we’ve got a feeling it’s the tip of the iceberg.
January 11, 2012 4:44 by p.deleon
It’s not finalised just yet but sources say struggling British lender Lloyds Banking Group is in talks with Abu Dhabi Commercial Bank (ADCB) for the disposal of its operations in the UAE. The bank is 40 percent owned by the UK government. Lloyds only has one branch covering the Middle East and it is currently located in Dubai, with a reported total asset value of AED6.1 billion. Stay tuned for this one.