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Dubai Investments in AED400m acquisitions

dubai airportDubai Investments is close to finalising two acquisitions worth a combined 400 million dirhams ($109 million), it said in a statement on Sunday.

One of the purchases will be of a financial entity with expertise in asset management, corporate advisory services, debt raising and brokerage capabilities, with the second acquisition coming in the real estate sector, the statement said.

It did not name the acquisition targets nor specify a timeline for closing the deals, beyond saying they would be “finalised soon”.

Shares in Dubai Investments rose 1.3 percent in the minutes after the announcement.-Reuters