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Canadians paid $103M for ABA stake: source

May 11th at 07:41
11-05-2016 07:41:54+07:00

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 after purchasing shares from the bank’s CEO and sole shareholder, Askhat Azhikhanov, and raising its total investment in the bank to $148 million.

phnompenh post

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