GLOBAL: Al Salam Bank has announced the sale of its 20.94% stake in Gulf African Bank (GAB) in Kenya as part of a broader group optimization strategy aimed at strengthening focus on core markets and expanding banking operations. The transaction forms part of the bank’s portfolio realignment efforts to enhance strategic allocation of capital across its regional footprint. The bank’s asset and wealth management arm, ASB Capital, which manages US$8.8 billion in AuM, has been appointed as sell-side adviser to provide structuring and execution support for the transaction.
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