Dubai's DXB Entertainments to hire advisors to review Meraas' buyout offer | ZAWYA MENA Edition
DXB Entertainments (DXBE) is set to hire some advisors to review Meraas’ proposal to buy out the troubled theme park operator.
DXB Entertainments is the owner and operator of Dubai Parks and Resorts, the region’s leading integrated leisure and entertainment destination.
State-backed Meraas Leisure and Entertainment made a conditional offer on December 20, 2020 to pay in cash and acquire the remaining shares of DXBE.
According to Refinitiv Eikon data, the Dubai property firm owns 52.3 percent of DXBE, while Qatar Investment Authority holds 10.98 percent and Kuwait Investment Authority, a little over 5 percent.
In a bourse filing on Monday, the owner of Dubai Parks and Resorts said it will be considering a resolution on December 30, 2020 to review and approve the appointment of the financial and legal advisors for the purpose of evaluating Meraas’ offer.
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