Dubai's Majid Al Futtaim CEO Says Weighing Bid for Dunia - Bloomberg Business:
"Majid Al Futtaim Holding LLC aims to double profit in five years and is weighing an offer to acquire Abu Dhabi consumer finance firm Dunia Finance LLC as part of the plan, according to Chief Executive Officer Alain Bejjani.
“Dunia is an opportunity that was presented to us, so we are looking at it,” Bejjani said in an interview in Dubai. The company has not yet decided whether to make a formal bid, he said. Dunia’s shareholders, including Mubadala Development Co. and a unit of Temasek Holdings Pte, hired Morgan Stanley to explore a sale, people with knowledge of the matter said in July.
Bejjani, 42, who became CEO in February after roles including chief corporate development and brand officer, said acquisitions could be part of MAF’s expansion. Buying privately owned Dunia would be a strategic fit for Majid Al Futtaim’s finance unit, which caters to customers at the group’s malls, he said."
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