Tuesday 12 November 2013

Dubai’s Majid Al Futtaim Says Close to Buying Spinneys Jordan - Bloomberg

Dubai’s Majid Al Futtaim Says Close to Buying Spinneys Jordan - Bloomberg:

"Majid Al Futtaim Holding LLC said it’s close to buying the Spinneys supermarket chain in Jordan and is no longer interested in acquiring the retailer’s other businesses located outside the United Arab Emirates.
“It’s what makes more sense to us strategically,” Majid Al Futtaim Chief Executive Officer Iyad Malas said late yesterday in a telephone interview. “We’re pursuing Spinneys Jordan and not any other country.”
The company had considered acquiring Dubai-based private equity firm Abraaj Group’s stake in the Spinneys franchise outside the U.A.E., Malas had said in May."

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