Finance House to buy CAPM Investment

DUBAI - Finance House, a lender based in the UAE, plans to acquire CAPM Investment, said Yasser Geissah, the chief executive officer of the unprofitable Abu Dhabi-based financial services company.

By (Bloomberg)

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Published: Sat 24 Mar 2012, 11:02 PM

Last updated: Thu 2 Apr 2015, 9:45 PM

Finance House will pay close to a 10 per cent premium over the company’s cash value, Geissah said in a phone interview on Friday. CAPM’s Asayel Shares & Bonds Trading LLC was ranked 14th by value of securities traded among 66 brokerages on the Dubai Financial Market in August. Asayel is under a permanent cancellation process, according to the website of the Securities & Commodities Authority, the UAE market regulator.

CAPM shareholders earlier this week decided to sell the four-year-old business, Geissah said on March 20. Wissam Farran, group corporate communications manager at Finance House, declined to comment and calls to Asayel were unanswered.


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