Abu Dhabi: Centurion Investment, an Abu Dhabi-based company, acquired 40 per cent of UAE Exchange as part of a drive to expand its businesses into the financial sector.
"Centurion Investment heads with pace and confidence towards acquiring shares in a number of financial institutions which are operating in different sectors," said Saeed Mohammad Bin Butti Al Qubaisi, chairman of Centurion.
Al Qubaisi said the financial sector, which is considered one of the most important economic sectors in the UAE, motivated the acquisition.
"Our objective will be to expand the activity of UAE Exchange within the country and in the region and support its growth by opening new branches, developing customer service and providing new methods to provide ultimate customer care," said Al Qubaisi.
B.R. Shetty, managing director, CEO and partner of UAE Exchange said: "Our partnership with Centurion Investment will strengthen its presence within the UAE through multiple investments including finance and exchange".