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FINANCIAL NEWS
UAE’s Marka sees 5 acquisitions in 2015
13 Jan 2015
(MENAFN) Dubai-based retail start-up Marka, which is on the Dubai bourse, is looking at a number of acquisitions in the UAE and outside in fashion, food and beverages and sports goods retail sectors and expects to be profitable in the last quarter of 2015, the company’s CEO said, Emirates 24/7 reported.
He forecast that the company which last year acquired Retailcorp from Dubai World entity Istithmar for USD59.89 million, will be profitable in the last quarter of 2015.
Commenting on funding of the acquisition, he said every deal will be a combination of both cash and bank loans and sees positive cash positions in 2015-end even after the takeovers.
Retail brands catering to football merchandise and women’s brands, according to Peel, will be a big part of the group’s business strategy under its sports goods retail expansion program. “This region is football crazy and it makes sense to invest in such brands.”
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