Dubai – Mubasher: Shuaa Capital on Sunday announced that it has begun its post-acquisition integration and consolidation efforts with Kuwait based Amwal International Investment Company.
The UAE’s premier financial services Group noted that the acquisition comes along with the company’s vision of delivering long-term shareholder value, according to Shuaa’s statement to the Dubai Financial Market (DFM).
“The commencement of this consolidation exercise represents the culmination of our efforts in establishing a broad geographic footprint across the region’s strongest markets. From our heritage in the UAE, and now in our six well-placed jurisdictions, we are well positioned to tap into a diverse range of growing markets,” Fawad Tariq-Khan, CEO of Shuaa, said.
Moreover, an acquisition between Shuaa Capital’s existing capital markets business and Amwal’s key subsidiary, ‘Noor Capital Markets’, the region’s leading homegrown online FOREX, is expected to take place, according to the statement.
“We are excited about the potential to take our expertise into Kuwait, Turkey and Jordan, as well as bringing Noor Capital Markets’ services and offerings to our home territories. We believe that we have a winning combination which will support our continued transformation on the path to sustainable profitability,” the CEO added.
The value of acquisition has not revealed yet.
