FGB sells 45 per cent stake in First Gulf Financial Services

Dubai: Abu Dhabi-listed FGB said on Wednesday it has sold its 45 per cent stake in brokerage firm First Gulf Financial Services to a unit of Abu Dhabi Financial.

The agreement follows a plan, which FGB has recently undertaken to increase focus on core banking activities locally and overseas.

The transaction, which was signed on October 2, will be completed in coming days, subject to regulatory approvals, it said in a statement.