UPDATE 1-Dubai's Emaar buys remaining 49 pct of website Namshi | Reuters:
Dubai’s Emaar Malls on Monday bought the 49 percent of e-commerce fashion website Namshi it did not own from Global Fashion Group (GFG) for 475.5 million dirhams ($129.5 million).
The owner of Dubai Mall, the Middle East’s largest shopping centre, said it bought the stake in an all-cash transaction.
“We have ambitions throughout the region with Namshi so I think they are going to give us a geographic outreach that we do not have with the Dubai Mall today. So that is fundamental,” Emaar Malls CEO Patrick Bousquet-Chavanne told Reuters.
No comments:
Post a Comment