UAE's ADFG to take over Shuaa Capital in reverse merger by mid-April - sources | Reuters:
Abu Dhabi Financial Group (ADFG) is set to take over Shuaa Capital in a reverse merger, two sources familiar with the matter said on Tuesday. ADFG, an alternative investment company with more than $20 billion in assets under management, already owns 48.36 percent of Shuaa, according to Refinitiv data.
It will take over Shuaa in an all-share transaction with the new company to be named Abu Dhabi Financial Group, with the deal to be finalised by mid-April, the sources said, declining to be named as the matter is not yet public.
ADFG and Shuaa declined to comment.
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