Abu Dhabi Financial Group and Al Mal Capital among bidders for Shuaa stake
Abu Dhabi Financial Group (ADFG) and Al Mal Capital are among the bidders for Dubai Group's 48.4% stake in Shuaa Capital. Dubai Group, a unit of Dubai Holding, the investment vehicle of the emirate's ruler, is in the process of selling its holding in Dubai investment bank Shuaa to raise funds to meet repayments under its USD10bn debt restructuring. The alternative investment firm ADFG, which bought First Gulf Bank's brokerage arm in 2014, has placed a bid for Shuaa. Dubai investment firm Al Mal Capital, which is 60% owned by Dubai Investments, has also bid for Shuaa. (Bloomberg)
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