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Sun 11 Jan 2015 01:39 PM

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Dubai Investments closes in on $109m acquisition deals

Company says it is close to finalising agreements on two acquisitions, including one in real estate sector

Dubai Investments closes in on $109m acquisition deals
Dubai Investments CEO and managing director Khalid Bin Kalban.

Dubai Investments is close to finalising two acquisitions worth a combined AED400 million ($109 million), it said in a statement on Sunday.

One of the purchases will be of a financial entity with expertise in asset management, corporate advisory services, debt raising and brokerage capabilities, with the second acquisition coming in the real estate sector, the statement said.

It did not name the acquisition targets nor specify a timeline for closing the deals, beyond saying they would be "finalised soon".

Shares in Dubai Investments rose 1.3 percent in the minutes after the announcement.

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