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FINANCIAL NEWS
Centurion acquires 40% stake in UAE Exchange
01 Feb 2012
(MENAFN) UAE’s Centurion Investment said that it acquired a 40 percent stake in UAE Exchange, in a deal that would expand the company’s business in the financial sector, reported Emirates 24/7.
The Abu Dhabi-based private firm added that the acquisition would increase UAE Exchange’s funding and expanding.
On the other hand, it said that the fim acquired 40 percent of Abu Dhabi-based New Medical Centre (NMC) in 2011 for USD1.39 billion, adding that UAE Exchange was part of NMC.
It is worth noting that UAE Exchange is one of the largest foreign exchange firms in the UAE, with 99 branches, in addition to 560 branches in 29 other countries.
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