KARACHI (Dow Jones)-
Pakistan's Nishat Group said Wednesday it will tie up with Malaysia's Malayan Banking Bhd. (1155.KU), or Maybank, to buy stakes in overseas banks.
"We now plan to move ahead with acquiring stakes in some banks in the Middle East and Indonesia," Nishat Group Chairman Mian Mansha told reporters.
He declined to name the potential targets or the likely investment that could be made.
Mansha said the group's MCB Bank (MCB.KA), in which Maybank is a shareholder, is likely to complete the buyout of the Royal Bank of Scotland Group PLC's (RBS) Pakistan operations in two weeks.
The MCB Bank had bought Royal Bank of Scotland's Pakistan assets in August this year.
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