Al Habtoor appoints Thornton as group valuator
Dubai, September 11, 2012
UAE-based conglomerate Al Habtoor Group has appointed Grant Thornton, a global advisor to owner-managed businesses, to conduct an independent professional valuation of the Group ahead of its proposed Initial Public Offering (IPO).
Grant Thornton has had a presence in the UAE for more than four decades, a statement said.
It has experience of what clients require and the support needed to have them ready for listing. The company has global expertise in governance structures, systems and controls and regulatory requirements, the statement added.
“Grant Thornton team has gained extensive expertise on market regulations and in particular the regulations adopted by the Dubai Financial Services Authority that are in line with the global practice and EU guidelines,” it said.
The global advisory firm added that a team of vastly experienced professionals will be working closely with the Al Habtoor Group, headed by its chairman, Farouk Mohamed.
David Fisher, CEO Middle East Advisory and Global CEO of Corporate Finance will be leading the team of qualified experts in the regulatory requirements and provide the market advice needed.
Grant Thornton has extensive experience in dealing with cross-border transactions involving merger & acquisitions (M&A’s) and IPOs. It has listed companies in over 30 countries including the UK, France, Germany, Ireland, Hong Kong, Malaysia, Egypt and China.
It has executed more than 220 mandates on the London AIM Market and has clients from various sectors including companies with Middle Eastern investors. It also has extensive Islamic Finance expertise. – TradeArabia News Service