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Israeli-UAE group to buy BR Shetty s Finablr for $1 DUBAI, December 20, 2020 Finablr, the scandal-hit payments and foreign exchange solutions company, has decided to sell its operations to Global Fintech Investments Holding AG (GFIH), an affiliate of Prism Group AG of Israel, for $1.
Finablr, owned by NRI businessman BR Shetty, has announced that it has entered into a definitive agreement with GFIH to sell the entire issued share capital of Finablr Limited, its wholly owned subsidiary, for a nominal initial consideration of $1 , said a report.
Prism Group, linked to a former Israeli Prime Minister Ehud Olmert, has formed a consortium with Abu Dhabi s Royal Strategic Partners (RSP) in connection with the transaction, said the Khaleej Times report. ....
BR Shetty File Photo UAE-based Indian billionaire BR Shetty s company Finablr Plc is getting ready to sell its business to an Israeli-UAE consortium for $1, capping the collapse of a business that had a market value of $2 billion (Rs 14,700 crore) last December. According to media reports, Finablr, the scandal-marred platform for payments and foreign exchange solutions, announced that it has entered into a definitive agreement with Global Fintech Investments Holding (GFIH), an affiliate of Prism Group of Israel, to sell to GFIH the entire issued share capital of Finablr Limited. Prism Group, linked to a former Israeli Prime Minister Ehud Olmert, has formed a consortium with Abu Dhabi s Royal Strategic Partners (RSP) in connection with the transaction. ....
Finablr sold to UAE-Israeli consortium for $1 Issac John/Dubai Alamy Global Fintech Investments Holding partners with Royal Strategic Partners to provide working capital to support company Finablr, the scandal-marred platform for payments and foreign exchange solutions, announced on Thursday that it has entered into a definitive agreement with Global Fintech Investments Holding (GFIH), an affiliate of Prism Group of Israel, to sell to GFIH the entire issued share capital of Finablr Limited, its wholly owned subsidiary, for a nominal initial consideration of $1. Prism Group, linked to a former Israeli Prime Minister Ehud Olmert, has formed a consortium with Abu Dhabi s Royal Strategic Partners (RSP) in connection with the transaction. ....
Background Further to its announcement on 6 October 2020, the Company today announces that it has entered into a definitive agreement with Global Fintech Investments Holding AG ( GFIH ), an affiliate of Prism Group AG ( Prism ) to sell to GFIH the entire issued share capital of Finablr Limited, the Company s wholly owned subsidiary. Finablr Limited owns the entire remainder of the Company s group (the Target Group and the Transaction ). The Transaction will constitute the sale by the Company of its entire business and operations. Prism has formed a consortium with Abu Dhabi s Royal Strategic Partners ( RSP ) in connection with the Transaction, as further described below. ....