Shuaa Capital plans to sell non-core assets - The National

Shuaa Capital plans to sell non-core assets - The National:

"Shuaa Capital plans to sell non-core assets in the second half as the biggest shareholder of the Dubai-based bank implements a turnaround plan. The company is seeking to raise more than Dh100 million by selling investments in a private equity fund and water infrastructure services company, said the general manager Fawad Tariq Khan in Dubai. Shuaa also aims to expand its capital markets business and cut costs after Abu Dhabi Financial Group bought a 48.36 per cent stake last November. “We are exiting a part of Shuaa’s proprietary investments, a lot of which is a legacy from even before the financial crisis,” Mr Khan said. Money raised from the sales will be reinvested into the business and it also wants to increase investments in real-estate projects in the United Arab Emirates, he said."



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