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  • 20-08-15

    UAE's KBBO to merge two units, raise USD1b

    (MENAFN) USE's privately-owned KBBO Group plans to merge two of its investment firms and then raise more than USD1 billion from listing a stake in the combined entity in either London or New York.

    The family investment firm named after Chairman Khalifa Butti Bin Omeir is merging two of its subsidiaries, Centurion Investment and Infinite Investment LLC, before the end of this year.

    Guggenheim KBBO Partners, a joint venture between New York-based investment firm Guggenheim Partners and KBBO, is advising on the process and banks will be chosen to arrange the initial public offering in early September.

    "The group is raising capital to fund new investment opportunities and to monetize existing investments," a source said, which declined to be named as the matter is not yet public.

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