Announced
Financials
Sources
Tags
Domestic
Private
consumer finance
Consumer Lending
Majority
Single Bidder
United Arab Emirates
Private Equity
Acquisition
Pending
Friendly
Synopsis
Gargash Group, a UAE business conglomerate, agreed to acquire Deem Finance, a consumer finance business, from investment companies Mubadala, Fullerton and Waha Capital. Financial terms were not disclosed. Gargash Group, which has a strong presence in the non-banking financial services sector for 23 years through Daman Investments, said the acquisition would deepen and expand its financial services offerings within the market and would further accelerate the group’s ability to meet its strategic growth plans.
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