Dubai – Mubasher: Al Ramz Corporation Investment and Development (Al Ramz) on Sunday announced that it has been in advanced talks to acquire a UAE domiciled operational financial institution.
Al Ramz is working on obtaining the necessary approvals for the acquisition, according to the company’s statement to the Dubai Financial Market (DFM).
Al Ramz will keep its shareholders updated with recent information regarding the acquisition process.
During the first nine months of 2018, the UAE-based firm reported a 13% year-on-year drop in net profit, logging AED 29.8 million, versus AED 34.17 million.
