UAE jeweller Damas International has appointed Japan's Nomura to advise it on a potential offer from Qatari conglomerate Mannai Corp, three sources familiar with the matter said on Wednesday.
Mannai, whose operations span the oil and gas, automotive, travel and logistics sectors, last month said it had secured commitments from shareholders, including the key Abdullah brothers, to buy 58.8 percent of Damas at 45 U.S. cents a share.
At that price, an offer would value Damas at around $445 million, according to Reuters data. The stock, trading at 36 cents on Wednesday, has surged since the news of deal talk on Jan. 4, gaining 63 percent year-to-date.
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