Dubai Holding plans to exit SHUAA, EFG Hermes, Bank Muscat

By: Amr Adel

Dubai – Mubasher: Dubai Holding’s CEO, Fadel Al Ali, said on Tuesday that the company plans to sell its stakes in SHUAA Capital, EFG Hermes and Bank Muscat during 2016 as part of a restructuring plan.

Al Ali added, during the opening of RTA’s Dubai Water Canal Project, that his company is currently proceeding toward selling its 48% stake in Shuaa Capital.

Dubai Financial Group owns about 12.33% of total shares in Bank Muscat, the largest bank is the Sultanate of Oman, and 11.8% in EFG Hermes.

Translated by: Elwy el-Manzalawy