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Commercial Bank further extends exclusivity period for Tabarak Investment

Commercial Bank (PSQC) further extended to April 2 the exclusivity period for private equity firm Tabarak Investment, the potential buyer of its 40% stake in United Arab Emirates-based United Arab Bank PJSC.

In September 2017, the Qatari lender gave the then-unidentified third party a 90-day exclusivity period to negotiate the terms of the potential sale, which was then stretched to Feb. 28. On Feb. 20, both firms reportedly agreed in principle on the sale, although the completion date remained unclear. A Tabarak spokesman reportedly said the deal "is not yet final."