Dubai: Shuaa Capital said on Tuesday it is currently negotiating a potential acquisition of Anwal International Investments.
The company has not signed any document pertaining to this transaction and will keep the market updated on any developments, it said in a statement posted on Dubai Financial Market’s website.
Shuaa Capital recorded profits for the third consecutive quarter of last year, driven by strong results in its real estate asset management and credit businesses.
Net profit for the three months ended September jumped 165 per cent to Dh23 million, compared to a net loss of Dh35 million in the same quarter last year, the company said.
