Finablr bidders hire Alvarez and Marsal to advise on restructuring and acquisitions | The National
The consortium that agreed a deal in December to buy the UAE's foreign exchange and digital payments group Finablr has hired Alvarez & Marsal Middle East to advise on the company's restructuring and on future acquisitions.
Alvarez & Marsal has already provided Switzerland-based Prism Group and Royal Strategic Partners with an assessment of Finablr's current state and business planning advice.
It will also work on a turnaround programme to improve Finablr's operational performance and efficiency, including strengthening its management team, the consortium said in a statement on Tuesday.
Former Deloitte partner Robert Miller was appointed as Finablr's new chief executive in December.
“We are pleased to confirm that our initial due diligence on the acquisition of Finablr is complete and we are looking forward to winning regulatory approval for the deal so that we can stabilise the business and implement our ambitious expansion plans," Prism Group chief executive Amir Nagammy said.
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