ISLAMABAD, Oct 15: The Privatization Commission will announce here on Tuesday various local and foreign parties, which have deposited Statements of Qualification (SoQs) to buy the United Bank Limited.

According to an official of the Privatisation Commission, those parties, which have deposited SoQs, will now be prequalified and that the disinvestment of the UBL will take place in December this year as per schedule. After the pre-qualification bidding will be conducted by the Privatization Commission.

Earlier, the Privatization Commission had received 21 Expressions of Interest (EoIs) from strategic investors from the world-over for pre-qualification to participate in privatization of the United Bank.

The Privatization Commission and its financial adviser had held a number of road shows in the Middle East, England and the US, which resulted in 21 EoIs received. These include seven from Middle East, four from UK, two from US and eight from Pakistan.

The parties from Pakistan were: Aqeel Karim Dhedhi Securities (Pvt) Ltd, Central Insurance Company Limited (a Dawood Group company), Fauji Foundation (Pakistan)/ Amsterdam Trust Corporation (ATC) (Netherlands), M Abdullah & Associates, Institute of Overseas Pakistanis, Invest Capital Securities (Pvt) Limited, Muslim Commercial Bank and Union Bank Limited.

The parties from Middle East were: ARY Traders (UAE), Abu Dhabi Group (UAE), Bank Dhofar Al-Omani Al-Fransi (SAOG) (Oman), Bank Muscat (SAOG) (Oman), Dalil International (Bahrain) WLL (Bahrain), Jawed Textile Mills Company (EC) (Bahrain), Nasser Abdulla Hussain Lootah Group of Companies (UAE).

The parties from the United Kingdom were: Ahmad & Nabi, Mullan (Accountants & Tax Consultants) (London), Akhtar Group PLC (London), Bestway (Holdings) Limited (London), MM Sharif & Associates (London). And the parties from USA were IFS, INC. (US), and SB Technologies LLC.

The United Bank is one of Pakistan’s three leading commercial banks, having a country-wide and international branch network.