Multiply Group: UAE Firm Sitting on Millions Eyes Bargains in ‘Buyer’s Market’ - Bloomberg
An Abu Dhabi firm with investments ranging from Getty Images to Rihanna’s lingerie company is scouting for opportunities to deploy an $817 million warchest.
“It’s a buyer’s market. It’s a good time to be sitting on a pile of cash,” Multiply Group Chief Executive Officer Samia Bouazza said in an interview. “We’re in a very active acquisitive mode looking for the right opportunities.”
The tech-focused holding company plans to spend more than 3 billion dirhams ($817 million) on investments in sectors including media, wellness and beauty, and the digital economy. Through its ventures arm, it will target investments in sectors benefiting from a post-Covid boom, including software and e-commerce.
“We believe we will find a lot of opportunities globally,” Bouazza said, adding that the firm would like the allocation to be fairly distributed across its verticals.
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