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The Privatisation Commission had received twenty one (21) Expressions of Interests (EOIs)
Islamabad, July 31, 2001


 

The Privatisation Commission had received twenty one (21) Expressions of Interests (EOIs) from strategic investors from the world over for pre-qualification to participate in the privatisation of United Bank Limited (UBL).
Statement of Qualifications are expected to be received back from the parties by mid September, this year. UBL is targeted to be privatised by end this year.

The PC and its Financial Advisor had held a number of road shows in the Middle East, England and USA which resulted in 21 EOIs received which include seven from Middle East, four from UK, two from USA and eight from Pakistan.

The parties from Pakistan:

1

Aqeel Karim Dhedhi Securities (Pvt) Ltd.

2

Central Insurance Company Limited
(a Dawood Group company)

3

Fauji Foundation (Pakistan)/ Amsterdam Trust Corporation (ATC) (Netherlands)

4

M Abdullah & Associates

5

Institute of Overseas Pakistanis

6

Invest Capital Securities (Pvt) Limited

7

Muslim Commercial Bank

8

Union Bank Limited


The parties from Middle East:

9

A.R.Y. Traders (UAE)

10

Abu Dhabi Group (UAE)

11

Bank Dhofar Al-Omani Al-Fransi (S.A.O.G) (OMAN)

12

Bank Muscat (SAOG) (Oman)

13

Dalil International (Bahrain) W.L.L. (Bahrain)

14

Jawed Textile Mills Company (E.C) (Bahrain)

15

Nasser Abdulla Hussain Lootah Group of Companies (UAE)

 

The parties from United Kingdom (UK):

16

Ahmad & Nabi McMullan (Accountants & Tax Consultants) (London)

17

Akhtar Group PLC. (London)

18

Bestway (Holdings) Limited (London)

19

M.M. Sharif & Associates (London)

The parties from USA :

20

IFS, INC. (USA),

21

SB Technologies LLC.

UBL is one of Pakistan's three leading commercial banks, having a countrywide and international branch network. UBL has a full service licence covering commercial, retail banking, consumer and investment banking activities in Pakistan and most of the other countries where it is present. UBL has an extensive domestic network consisting of around 1400 branches with a market share of 9 %. UBL operates a focused international network of branches in UK, USA, UAE, Yemen, Bahrain, Qatar and export processing zone of Karachi, operating a joint venture- Oman United Exchange Co., Oman Muscat and a subsidiary- United Bank A.G. Zurich, Switzerland and has representative offices in Cairo, Egypt and Tehran, Iran.