DUBAI United Arab Emirates property tycoon Hussain Sajwani made a $255 million offer on Wednesday to buy out minority shareholders in DAMAC Properties, which…
(Bloomberg) Dubai-based billionaire Hussain Sajwani intends to take Damac Properties PJSC private by buying its remaining shares through a firm he owns, the developer said.Maple Invest Co Limited, owned by Sajwani, on June 8 made “a firm intention to make a voluntary conditional offer for the issued share capital of Damac not already owned by Maple and its affiliates,” according to a statement.Sajwani, who owns a 72% stake in the developer, resigned as Damac’s chairman to avoid conflict of in
United Arab Emirates property tycoon Hussain Sajwani made a $255 million offer on Wednesday to buy out minority shareholders in DAMAC Properties (DAMAC.DU), which he has run for nearly two decades.
DUBAI, United Arab Emirates (AP) — The billionaire founder of one of Dubai’s largest developers, DAMAC Properties, announced on Wednesday his intention to take the company fully private by buying