Dubai Investments completes 59.66% acquisition in Al Mal Capital

Date: 26 June 2015

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 glassonweb.com

See more news about:

Others also read

Articles, videos guide customers working with glass
Adrian is one of the most sought-after speakers on business, sales and customer service in Britain and has worked with huge brands such as HSBC, Airbus and John Lewis.
The Glazing Summit has stepped up a gear this week with the announcement of this year’s agenda.
The Architectural Glass and Metal Technician (AGMT) Certification Program has completed its final phase of development and is excited to announce it is now accepting applications for live testing.
Vitro Architectural Glass (formerly PPG Glass) has launched an online guide to help architects understand how their projects can earn LEED® (Leadership in Energy and Environmental Design) credits when they use products by Vitro Glass.
The North American Contractor Certification (NACC) program is pleased to announce that it will host its first industry webinar for technical discussion at 2:00PM EST on June 28th, 2017.

Add new comment