Gargash Group to acquire Deem Finance from Mubadala, Fullerton and Waha Capital.

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.