Dubai Investments Says Near Completing Two Buys Worth Dhs400m

Dubai Investments is close to finalising two acquisitions worth a combined Dhs400 million ($109 million), it said in a statement on Sunday.

One of the purchases will be of a financial entity with expertise in asset management, corporate advisory services, debt raising and brokerage capabilities, with the second acquisition coming in the real estate sector, the statement said.

It did not name the acquisition targets nor specify a timeline for closing the deals, beyond saying they would be “finalised soon”.

Shares in Dubai Investments rose 1.3 per cent in the minutes after the announcement.