Shuaa moves closer to Integrated acquisition

Shuaa Capital says it has competed due diligence on its bid to acquire a brokerage and an investment company in the UAE.

In March, the firm revealed its intentions to buy Integrated Securities and Integrated Capital, claiming the acquisitions would realise efficiencies and broaden its product offering.

“We have thoroughly considered all our strategic options and firmly believe this deal will herald a new chapter for the group, and for the financial services landscape in the MENA region as a whole,” said Jassim Alseddiqi, chairman of Shuaa Capital.

The acquisition of the two businesses, which are owned by Integrated Financial Group, is still subject to regulatory approvals.

Integrated Securities has more than 15 billion dirhams ($4 billion) of equities under custody for its roughly 3,000 clients, while Integrated Capital is known for being co-lead on bond offerings such as a $500 million bond issue from Etihad Airways Partners in 2016.

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