Dubai Investments completes 59.66% acquisition in Al Mal Capital

Dubai Investments PJSC [DI], the leading investment company listed on the Dubai Financial Market [DFM], has completed acquisition of 59.66% stake in Al Mal Capital PSC [Al Mal], which when allied to the 1.20% already held by the Company, equates to an overall shareholding of 60.86%.

Established in 2005, Al Mal is a diversified investment institution, licensed and regulated by the Central Bank of the United Arab Emirates and headquartered in Dubai.Al Mal offers a wide range of investment products spread across its business lines of investment banking, brokerage and asset management. The acquisition paves the way for DI to enter the financial services sector and adds a strategic element to its diversified investment base. Al Mal recently held its first Board meeting post-acquisition, during which the Company’s strategy and growth plans were discussed. The Board also gave the go ahead for appointment of a consultant to work on aligning Al Mal’s strategy with DI requirements. Al Mal, through its investor network, provides DI the opportunity to explore fresh avenues and expand its geographical footprint whilst also giving it the opportunity to significantly strengthen its assets under management. Khalid Bin Kalban, Managing Director and CEO of Dubai Investments and Chairman of Al Mal, said: “We are excited about investing in Al Mal and believe we are well positioned to capitalize on their operational expertise and disciplined approach to risk management. Al Mal’s expertise in asset management, mergers and acquisitions, public and private placements coupled with its brokerage services enhance DI’s in-house capabilities in managing its investment activities while at the same time providing a steady pipeline of deal flow to Al Mal.” He added: “We have been eyeing an entry into the financial services sector for some time and the integration of Al Mal into the DI Group gives us the edge that we need as we continue our drive towards delivering even more value to our stakeholders.” Dubai Investments’ acquisition of Al Mal Capital and foray into the financial services sphere comes close on strong, long-term growth indicators in the sector, driven by diversifying economies, investment opportunities and favourable regulations across the Gulf and Middle East, which are expected to attract capital inflow into the region.

600450 Dubai Investments completes 59.66% acquisition in Al Mal Capital
Date: 26 June 2015

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