A business group linked to a former Israeli prime minister is close to finalising a deal to buy Finablr, the scandal-hit payments group that is majority-owned by Indian entrepreneur BR Shetty.
Ehud Olmert, Israeli prime minister from 2006-09, is non-executive chairman of Prism Advance Solutions, the London-registered company that was announced in October as a joint bidder with Abu Dhabi’s Royal Strategic Partners for Finablr’s assets including its foreign currency subsidiary UAE Exchange, said a person briefed on the deal.
Mr Olmert is involved in the transaction — touted as the biggest since the United Arab Emirates and Israel agreed to normalise relations in August — “on a daily basis”, calling senior officials in Abu Dhabi or Dubai, the person said. His involvement was intended to provide “some degree of trust that this is a serious business endeavour”, the person added.
Royal Strategic Partners, which is run by corporate veteran Abubaker Al Khoori, is affiliated with Sheikh Hazza bin Zayed Al Nahyan, the deputy chairman of Abu Dhabi Executive Council and a brother of the de facto leader of the UAE.
The unit is a subsidiary of private investor Abu Dhabi Capital Group, which is owned by Sheikh Hazza and his immediate family, according to Diligencia, a UK-based corporate data provider.
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