Mubasher: GFH Financial Group said that its merger with SHUAA Capital will result in the formation of a semi-integrated financial institution that provides all financial services, CNBC Arabia reported.
The company announced on 14 March that it has held discussions with several financial institutions, including SHUAA Capital, for the potential acquisition of a majority stake in those financial institutions or a merger.
GFH plans to enter acquisitions worth $1.5 billion during 2017 and 2018, CEO Hisham Ahmed Al Rayes said earlier in an interview with Mubasher.
