Sources familiar with the talks about the merger of Shuaa Capital and the Abu Dhabi Financial Group said that the evaluation process by consultants from auditors and international banks will end in the middle of this month.
According to Al Khaleej newspaper, the sources indicated that it is up to the evaluation at the present time, but they expected it to be in the interest of the shareholders of Shuaa, and the group alike, knowing that Abu Dhabi Financial already owns 48.36% in Shuaa.
Yesterday, SHUAA shares jumped more than 7%, to close at 0.823 dirhams, after penetrating 0.84 dirhams during trading.
No comment from Abu Dhabi Financial and Shuaa.
According to two informed sources, Abu Dhabi Financial is in the process of reverse acquisition of Shuaa in a full stock swap deal, with the new company bearing the name of Abu Dhabi Financial Group with completion The deal by mid-April. UPS and LinkedIn are working with SHUAA, while JP Morgan works with Abu Dhabi Financial.
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