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Pakistan's MCB Bank to sell financial services unit for 89.5M rupees

MCB Bank Ltd. agreed to sell unit MCB Financial Services Ltd. to ISE Towers REIT Management Co. Ltd. and Infotech (Private) Ltd. for 89.5 million Pakistani rupees, or 32.53 rupees per share, according to an Oct. 15 stock exchange filing.

The sale is subject to regulatory and shareholder approvals, the bank said.

As of Oct. 15, US$1 was equivalent to 156.06 Pakistani rupees.