Rizal In Talks with CVC Asia Pacific

The Philippines' Rizal Commercial Banking Corp. is in talks with Hong Kong-based CVC Asia Pacific, and is negotiating to sell 127 million shares to the private equity firm, Reuters reported, citing the Manila Bulletin. The stake is worth roughly $83 million, and would be part of the banking company’s capital raising plans. In March Rizal sold a 7.2% stake to the International Finance Corp., the World Bank's private sector arm, for about $50 million.

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