Dubai's Shuaa Capital says plan to sell market-making unit fails - Arabianbusiness:
Dubai-based Shuaa Capital has announced that plans to sell its market-making business, Shuaa Capital International, has hit an obstacle.
While a deal to sell Shuaa Securities, its securities brokerage, to IHC RSC Ltd, a subsidiary of International Holdings Company (IHC), is proceeding, the buyer has pulled out of the deal for the market-making business, a statement said.
In September, Shuaa Capital said it had agreed to sell both businesses to IHC RSC Ltd.
Under the terms of the all-cash deal, IHC was expected to acquire the operations of both businesses.
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