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International Holdings completes AED 98.5m acquisition

International Holdings completes AED 98.5m acquisition
The transaction will be financed by International Holdings’ resources
Shuaa
SHUAA
2.83% 0.95 0.03
IHC
ASMAK
0.00% 5.00 0.00

Abu Dhabi – Mubasher: International Holdings Company has announced that it completed all the procedures required for the purchase of all of Shuaa Securities’ shares.

The deal’s value amounted to AED 98.5 million, according to a bourse statement.

“The results of the purchase transaction should be reflected in the financial statements of the fourth quarter of 2019,” the statement added.

The transaction will be financed by International Holdings’ resources.

In September, International Holdings acquired Shuaa Securities and Shuaa Capital International, subsidiaries of Shuaa Capital.