Abu Dhabi bank deal likely to be merger of equals, not takeover: sources

London

ABU Dhabi's planned consolidation of two of its largest banks is unlikely to be structured as a takeover of National Bank of Abu Dhabi PJSC by First Gulf Bank PJSC, according to people familiar with the matter.

The emirate may structure the deal as a merger of equals, one of the people said, with two of the sources saying it would be unlikely that FGB takes over NBAD as some analysts have speculated.