Shuaa finalises two acquisition deals

Firm expects improved synergies from takeovers of Integrated Securities and Integrated Capital

Shuaa Capital yesterday announced the completion of its acquisition of Integrated Securities (IS) and Integrated Capital (IC) following final approval by the Emirates Securities and Commodities Authority and the Central Bank of the UAE.

“IS and IC are a natural addition to the anatomy of Shuaa Capital. Upon full integration, we expect improved synergies and efficiencies, with a greater depth of investment products and offerings for our expanded client base,” said Fawad TariqKhan, chief executive of Shuaa, in a statement.

Fruitful expansion strategy

“The expansion strategy set out under our new ownership and management is proving particularly fruitful in current times, such as entering into Egypt just as the country’s stock market experienced a significant surge in fund inflows.”

With the acquisition, Shuaa’s assets under management will grow to Dh4.5 billion, adding to a roster of 3,000 retail and institutional clients, with Dh15 billion shares in custody in its brokerage business.

The company will consolidate earnings from IS and IC, starting in the second quarter of 2018, for reporting purposes.

Shuaa has also confirmed that its offer to acquire publicly listed Amwal International Investment Company in Kuwait is going through regulatory approvals.

It is also working on a number of other potential acquisition opportunities in the region including Egypt.