Qatar's Mannai Corp and Egyptian investment bank EFG Hermes have taken control of Dubai's Damas after their consortium's $445 million offer was accepted by more than 75 percent of the jeweler's shareholders.
The bidders have received acceptances representing 78.37 percent of Damas's share capital for their $0.45 per share offer, according to a statement on the Nasdaq Dubai bourse on Thursday.
"This effectively means the consortium has now acquired control," the statement said.
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