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Report: Falcon Private Bank denies sale rumors

Falcon PrivateBank Ltd. said Oct. 5 that it is not up for sale, Reuters reportedthe same day.

Inside Paradeplatz reported on the same day that the bank'sowners told newly appointed CEO Walter Berchtold to start a sale process for thelender. The report mentioned Banque Heritage (Suisse) SA as a potential buyer,according to Reuters.

Falcon Private Bank, which is owned by United ArabEmirates-based International Petroleum Investment Co. PJSC, said that it hasnot discussions with Banque Heritage about a prospective sale.