Eshraq completes Goldilocks acquisition

Abu Dhabi-based asset manager Eshraq Investments has concluded its acquisition of fellow Abu Dhabi-based fund Goldilocks Investment.

According to a filing with the Abu Dhabi Securities Exchange, Eshraq now owns 99.25% of Goldilocks.

Eshraq has reduced Goldilocks’ share capital from AED3.25billion to AED1.44 billion (US$382 million).

The transaction also completes Goldilocks’ exit from a public company, GFH Financial Group.  

The Goldilocks fund, which is managed by a unit of Dubai-based investment bank Shuaa Capital, has also signed an agreement to acquire a 51% stake in NCM Investments, a forex, commodity and index trading company.

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