We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Tue 15 Nov 2016 03:44 PM

Font Size

- Aa +

ADFG gets regulatory approval to buy 48% stake in Shuaa Capital

Dubai's Shuaa Capital said the central bank and the stock market regulator both gave approval for the acquisition

ADFG gets regulatory approval to buy 48% stake in Shuaa Capital

Dubai's Shuaa Capital said on Tuesday it has received regulatory approvals allowing Abu Dhabi Financial Group (ADFG) to buy a 48.36 percent stake in the investment bank.

Alternative investment firm ADFG agreed in June to acquire the stake from Dubai Banking Group, a subsidiary of Dubai Group.

Shuaa received approval from both the central bank and the stock market regulator, the bourse statement said, adding that it expected ADFG to execute the transaction on the Dubai stock exchange soon, without providing a date.

Arabian Business: why we're going behind a paywall

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.