SHUAA Capital sells two companies to IHC Holding

Dubai 08-09-2019
SHUAA Capital has approved the sale of two of its subsidiaries to IHC Holding Limited – a subsidiary of Abu Dhabi-based global holding company.
In a statement posted on the Dubai Financial Market (DFM) website, the company said that the two companies to be sold are specialized in brokerage and market industry in the UAE, stressing that the sale will be completed after obtaining the necessary regulatory approvals from the competent authorities.
The agreement between SHUAA Capital and Global Holding is part of the unified entity’s strategy resulting from the merger of SHUAA and the Abu Dhabi Financial Group to exit non-core activities and focus on asset management and investment banking.
Meanwhile, Global Holding announced that its board of directors approved the acquisition of the two companies during its meeting held on September 5, 2019.