Dubai – Mubasher: Shuaa Capital announced it is pushing ahead with the completion of the potential merger with Abu Dhabi Financial Group (ADFG).
The potential transaction with ADFG will be implemented through a strategic investment structure wherein the combined entity will maintain operation as a company listed on the Dubai Financial Market (DFM), Shuaa Capital said in a statement.
ADFG previously stated that the new entity would be established under the name of “Abu Dhabi Financial Group.”
The company is going through the final stages of the transaction, waiting for the required approvals of the concerned regulatory
In March, ADFG and Shuaa appointed UBS and JPMorgan Chase & Co as advisers for the potential merger.
It is worth noting that ADFG already owns a 48.36% stake in Shuaa Capital, the UAE-based investment bank.
