Search form

Login - Register | FOLLOW US ON

Logo of Phnom Penh Post newspaper Phnom Penh Post - Canadians paid $103M for ABA stake: source

Canadians paid $103M for ABA stake: source

The National Bank of Canada paid $103 million to increase its stake in Cambodia-based Advanced Bank of Asia (ABA Bank) from 42 per cent to 90 per cent, the Canadian press said yesterday, reporting on the acquisition announced on Monday.

National Bank of Canada took a controlling stake in ABA Bank with the share purchase, raising its total investment in the bank to $148 million.

A previous version of this article incorrectly stated that National Bank of Canada had acquired an additional stake in ABA Bank by purchasing shares from the bank's CEO, Askhat Azhikhanov. Records show, however, that Mr. Azhikhanov is not a shareholder in the bank. The Post apologises for any inconvenience caused.
0

Comments

Please, login or register to post a comment

Latest Video

Phnom Penh eats: Homegrown veggies at Bayon Beoung Snor

​Nestled along National Road 1, Bayon Beoung Snor is a farm-cum-restaurant. The team grows their own vegetables, which they then use to whip up traditional Khmer food.

Bill Clough reflects on The Phnom Penh Post's 25 year history

The Post's publisher Bill Clough, under whose leadership the publication went from a fortnightly to a daily one, discusses his investment in Cambodia, his vision for the paper in an increasingly digital age,

Comfrel Executive Director Koul Panha speaks to the press at a meeting yesterday in Phnom Penh.

As the National Election Committee launched into the recount proc

People search for their names on the voter lists at a polling station in Kampong Cham’s Veal Vong commune earlier this month.

Four years ago, when the opposition snatched Kampong Cham away from the ruling party in 2013 national elections, it hinted at a deeper shift taking