ZURICH: Abu Dhabi’s Mubadala Development Co. is reviving plans to sell Falcon Private Bank in Switzerland as it seeks to distance itself from the 1MDB money laundering scandal, according to people with knowledge of the matter.The state-backed investment firm has invited bids for at least 5 billion francs ($5 billion) of assets managed by Zurich-based Falcon, the people said, asking not to be identified as the plans are private. The bank had held unsuccessful talks with potential buyers last year, people familiar with the matter said.

Source: The Star March 19, 2019 05:37 UTC