Dubai-Mubasher: Dubai-listed Gulf Navigation Holding denied any knowledge of the Abu Dhabi Financial Group’s (ADFG) plan to increase its stake in the company, according to a bourse filing to Dubai Financial Market (DFM) on Thursday.
ADFG’s Chief Executive Jassim Alseddiqi announced earlier that his company is considering an increase in its stake in the shipping firm to 50%.
ADFG’s media release came out without coordination with Gulf Navigation, added the bourse statement.
