Shuaa Capital says it has regulatory approval for ADFG to buy 48% stake in the investment bank
Shuaa Capital said on Tuesday it has received regulatory approvals allowing Abu Dhabi Financial Group (ADFG) to buy a 48.36% 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. (Reuters)
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