Exclusive: DAMAC's chairman considers taking company private - sources - Reuters:
The chairman of DAMAC Properties DAMAC.DU, owner of the only Trump-branded golf club in the Middle East, is weighing buying out minority shareholders and taking the $1.1 billion Dubai-listed company private, three sources familiar with the talks said.
Hussain Sajwani, who founded the company nearly two decades ago, has been exploring the deal since late 2019 after DAMAC’s share price plunged over the past two years, one of the sources told Reuters on Tuesday.
Sajwani, who through his private investment company bought Italian fashion house Roberto Cavalli last year, currently owns 72.2% of DAMAC, according to Refinitiv data.
He is in talks with banks to finance the deal, the same source added.
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