10 February 2020
- Selling the brokerage services and equity market-making businesses is in line with SHUAA's strategy to focus on asset management and investment banking
- All-cash deal with a total deal value of c. AED 100 million
United Arab Emirates: SHUAA Capital psc (“SHUAA Capital” or “the Group”), the leading Asset Management and Investment Banking platform in the region created by the merger of SHUAA Capital and Abu Dhabi Financial Group (ADFG), continues to implement its non-core exit strategy focusing on further growing and expanding the Group's asset management and investment banking platform.
SHUAA Capital announced today that it has completed the sale of its Securities and Market-Making businesses.
On January 15, 2020, SHUAA Capital had announced its agreement to sell its equities market-making business to Al Ramz Corporation Investment & Development PJSC. Prior to that on September 8, 2019, it sold its SHUAA Securities brokerage unit in the UAE to IHC RSC Ltd, a subsidiary of International Holdings Company (IHC). Both transactions were completed under the terms of an all-cash deal with a total deal value of c. AED 100 million.