UBL: Bestway, ADG to maintain control

Despite restructuring in shareholding of UBL, management control of the bank shall remain unaffected.

Despite a restructuring in the shareholding of United Bank Limited (UBL), management control of the bank shall remain unaffected.

A letter sent by the UBL to Securities and Exchange Commission of Pakistan cited that “the consortium of Bestway Group (BG) and Abu Dhabi Group (ADG) hold 61.37 per cent shares in and control of UBL”. The letter explained that management control of the bank will remain with this consortium.

Published in The Express Tribune, January 1^st, 2011.