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DBG ends dispute, gets 48pc Shuaa stake |
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06.25.2009 |
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Dubai Banking Group (DBG), a global Shari’ah-compliant investment firm, and investment bank Shuaa Capital settled a long-running dispute over a bond conversion with DBG taking a 48.4 percent stake in Shuaa, said a statement on Thursday.
The deal, which follows months of negotiations and DBG's threat to take Shuaa to court, will give DBG 515 million shares in Shuaa, more than twice the number of shares agreed to in the original deal, Shuaa said.
The new deal represents a conversion price of Dh2.91 ($0.793) per share or a premium of 127 per cent to the closing share price of Dh1.28 on Wednesday, Shuaa said.
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Source:www.tradearabia.com |
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