RIYADH: Abu Dhabi-listed Eshraq Investments is planning to fully acquire the shares of Goldilocks Investment Co., a fund managed by Dubai investment bank, Shuaa Capital.
The transaction will bring Esharq’s combined assets to $1 billion, Bloomberg reported.
As per the transaction, the UAE-based investment company will issue new shares to Goldilocks investors at about a 38 percent premium to the stock’s closing price.
The firm has not disclosed further details of the deal value.
“Eshraq is concentrated in real estate, and Goldilocks has investments in energy, finance and insurance sectors, so the combined entity will make an optimal portfolio to hedge against inflation, said Jassim Alseddiqi, chairman of Eshraq.
In 2021, Goldilocks delivered a 76 percent return as it invests in public and private firms, Bloomberg reported, citing a statement.
