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Mergers & acquisitions

Etisalat launched its e& identity in February

$4.4bn sounds a lot but e& has made the right call on Vodafone

Vodafone and e&, formerly known as Etisalat, will look to launch new products globally while working together to make greater efficiencies following the UAE telco’s deal to buy a $4.4 billion stake. Following the announcement that the UAE’s biggest telecoms operator has acquired a 9.8 percent stake in British mobile operator Vodafone Group, AGBI spoke […]

High Rise, City, Urban

UAE’s first SPAC on launch pad as alternative to IPO

Abu Dhabi’s ADC Acquisition Corporation (ADC), the UAE’s first special purpose acquisition company (SPAC), on Tuesday announced its initial public offering (IPO) subscription period will start on Thursday. Shares will be available for purchase to retail and professional investors in a public subscription in the UAE and listed on the Abu Dhabi Securities Exchange (ADX).  […]

What is a SPAC and how do they work?

Special purpose acquisition companies (SPACs) raise capital through an initial public offering (IPO) for the purpose of acquiring an existing operating company. Subsequently, an operating company can merge with (or be acquired by) the publicly traded SPAC and become a listed company in lieu of executing its own IPO. According to PwC, this approach offers […]

Could crowdfunding seed the Gulf’s next Unicorn?

Democratised funding is set to breed a new generation of innovative regional businesses, say experts Crowdfunding, the alternative funding concept, represents an exciting reality in the Gulf region following a flurry of regulatory reforms. This innovative practice of funding a venture by raising smaller amounts of money from a large number of people is a […]

Tech firm lands tasty deal

FOODICS, a cloud-based technology firm serving restaurants in the Middle East, has raised $170 million from investors led by Prosus and Sanabil Investments, which is owned by Saudi Arabia’s sovereign wealth fund PIF. The series ‘C’ funding would support regional and international expansion by FOODICS, including its merger and acquisition (M&A) strategy to increase market […]