shuaa capital to acquire integrated capital and integrated
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

SHUAA Capital to acquire Integrated Capital and Integrated

Arab Today, arab today

Arab Today, arab today SHUAA Capital to acquire Integrated Capital and Integrated

Dubai - Arab Today

SHUAA Capital, the UAE’s premier financial services firm, has announced it is entering an agreement to acquire Integrated Capital and Integrated Securities from Integrated Financial Group, pending due diligence and regulatory approval.
SHUAA is expected to offer improved synergies and efficiencies with a greater depth of investment products and offerings. The acquisition is part of SHUAA’s return to prominence as a regional investment powerhouse.
Integrated Capital is a central bank-licensed investment company that has played a leading role in fixed income transactions in the region. In 2016, it acted as the co-lead on the debut $500 million bond issuance by Etihad Airways Partners.
Integrated Securities, formerly known as First Gulf Financial Services when it was part of First Gulf Bank, brings to the table a securities brokerage business with over 3,000 retail and institutional clients.
Jassim Alseddiqi, chairman of SHUAA Capital, said: “The company is contemplating to restore SHUAA to its rightful position as a leader in capital markets and investment banking in the region. This is a gradual process, with an emphasis on building the right synergies and bringing the best products and services to the company’s clients, investors and stakeholders.”
The transaction remains subject to regulatory approval and is expected to close in the coming weeks.
In December 2016, SHUAA acquired a 14 percent stake in Khaleeji Commercial Bank (KHCB), a subsidiary of GFH Financial Group, and Bahrain’s leading Islamic retail bank.

Source: Arab News

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