Abu Dhabi: Abu Dhabi-based Ethmar International Holding has acquired a 67 per cent stake in BHM Capital Financial Services for Dh170 million, it was announced on Thursday.
BHM Capital is a private joint stock company listed on the Dubai Financial Market (DFM). The acquisition is a part if EIH’s strategic vision to diversify and expand its investments, especially in the financial services sector.
Ali Elgebely, Managing Director and Group CEO of EIH, said: “We are pleased to announce today a strategic acquisition in BHM Capital, which represents a significant and important step in our plan to invest in financial markets, supporting our vision to diversify and expand into various sectors. This aligns with our current and future plans through strong and strategic partnerships contributing to the development of a diverse, innovative, and sustainable investment portfolio.”
“We affirm our core strategy at EIH, which aims at diversifying our investments and making successful acquisitions that generate added value to our investors. Through this partnership with BHM Capital, we look forward to launching strategic projects in the current and future financial markets, providing high-quality services in line with the highest global standards.”
Abdel Hadi Al Sadi, CEO of BHM Capital, added: “This strategic partnership will offer numerous opportunities for BHM Capital, allowing us an ideal chance to sustain our growth trajectory, strengthen our position, and advance in expanding our operations into new markets while adopting and implementing the best global standards and practices.”