UAE INVESTORS AND DEAL FLOWS IN SPARKLING FORM: What’s common to a Swiss jewellry retailer and a trade finance focussed digital bank? Both of them have new owners, and both from the UAE. Sure, in the case of the latter, the Anglo-Gulf Trade Bank was bought by Gulf Islamic Investments (GII) from another UAE entity, Mubadala. Moreover, GII is just coming off a major deal in Saudi Arabia for a dental care clinic operator. With the Swiss jeweller, de Grisogono, the new owner is Hussain Sajwani, more known for his varied interests in real estate. Looking at the wider picture, it shows that the deal-making scene in the UAE and Gulf has, if anything, kicked up a gear or two. High oil, steady climb in inward investments and higher growth chances despite inflation are all fuelling this investment spree, whether it is digital plays or more about traditional investments. In addition, for anyone wanting a wider landscape, there are the IPOs – just look at the Borouge subscription numbers for confirmation. [COMMENT BY: Manoj Nair, Business Editor]
Bloomberg