DUBAI: Shuaa Capital said on Sunday its board will meet on June 25 and discuss approval of the strategic investor transaction with Abu Dhabi Financial Group.

The board will also discuss any ancillary matters related to the transaction, the company said in a statement posted on Dubai Financial Market’s website.

On June 10, Shuaa had said that it’s potential transaction on a merger with ADFG is progressing through its final stages before getting the regulatory and shareholders approval.

The statement also said that Jasem Al Seddiqi will hold the role of the group chief executive officer in the combined entity.

Shuaa shares bucked a weak Dubai market, and closed 5.43 per cent higher at Dh0.952.