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UAE’s DIFC Investments, ICD starts merger negotiations

26 Jul 2011

(MENAFN) Dubai International Financial Center’s (DIFC) CEO, Abdullah Mohammad Al Awar, said that the company’s unit, DIFC Investments, started merger negotiations with Investment Corp of Dubai (ICD), reported Gulf News.

Al Awar added that the talks included the swapping or merging of the DIFC Investments’ companies with ICD, through merging assets, nevertheless, DIFC would still manage DIFC Investments’ portfolio.

He also said that there were no plans for DIFC Investments to launch any new investments; on the other hand, the company had closer business relations with ICD and the government authorities.

It is worth noting that DIFC Investments owns and manages office buildings in the tax-free DIFC, a home to the regional offices of major international banks.

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