Dubai's DXB Entertainments to hire advisers to evaluate Meraas' offer - Gulf Business
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Dubai’s DXB Entertainments to hire advisers to evaluate Meraas’ offer

Dubai’s DXB Entertainments to hire advisers to evaluate Meraas’ offer

The board approved appointing KPMG and Shuaa Capital as financial advisers and Allen & Overy as legal adviser

Bollywood park, Dubai parks and resorts

DXB Entertainments plans to hire advisers to evaluate state-controlled Meraas Holding offer to acquire the Dubai theme park operator’s debt and take it private.

The board approved appointing KPMG and Shuaa Capital as financial advisers and Allen & Overy as legal adviser, according to a regulatory filing Wednesday.

Last week, Meraas offered to acquire debt worth Dhs4.26bn dirhams ($1.16bn) and convert it into new DXB Entertainment shares, boosting its ownership to more than 90 per cent.

DXB Entertainment hasn’t posted a profit since listing and the stock has lost more than 90 per cent of its value since a peak in 2016.

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