Emaar Properties, leading Dubai-based developer, has hired DBS, a leading bank specialising in Asia, to advise on the sale of Singapore-listed sports retailer RSH Holdings.

RSH Holdings is currently valued at $164 million, two sources told Reuters on Wednesday.

Emaar Properties took full control of the firm in July last year after taking over the debt of its Indian joint venture partner.

'DBS is advising Emaar,' one of the sources with direct knowledge of the deal told Reuters, who declined to be identified because the talks were not public.

A DBS spokeswoman declined to comment. Emaar was not immediately available to comment.

RSH, whose shares are currently suspended, last traded at S$0.66 a share on January 28. – Reuters