ADIB is not moving to acquire a minority stake in Indonesia’s largest Islamic bank: ADX-listed Abu Dhabi Islamic Bank (ADIB) is not planning to acquire a stake in Indonesia’s top Islamic lender, Bank Syariah Indonesia (BSI), denying in a bourse disclosure (pdf) “being in any negotiations to acquire a stake in such entity.”
ADIB’s statement came in response to a Reuters report earlier in the day claiming that the Emirati lender is in early talks to acquire a 15% stake in BSI for USD 1.1 bn from state-owned Bank Rakyat Indonesia, which currently holds 17.25% of BSI. Reuters reported that ADIB is aiming to capitalize on the rapidly growing demand for Sharia-compliant lending services in Indonesia, Southeast Asia’s biggest economy.
About BSI: The Indonesian bank is ranked the 10th biggest Islamic lender worldwide and held a 38% market share in Indonesia’s Islamic banking sector as of February 2023.
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Taqa confirms it wants Naturgy, but isn’t talking to Naturgy directly: Abu Dhabi National Energy Company (Taqa) confirmed reports it is in talks with two large shareholders — CVC and GIP — to potentially acquire their stakes in Spanish renewable energy player Naturgy, according to a disclosure (pdf). The company also confirmed it is discussing “a potential cooperation in relation to Naturgy” with Naturgy’s largest shareholder, Criteria Caixa. However, Taqa denied that it is in direct talks with Naturgy.