The emirate’s second-largest lender, has been “tied up” in restructuring talks and has been forced to write down the value of many of the loans, according to Bloomberg
Finablr
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acquisitions
Wizz Financial close to acquiring UAE Exchange after UK regulator approval
The company plans to rebrand UAE Exchange and affiliated regulated entities in the USA and the Middle East and offer an enhanced range of services
BFC Group Holdings
Finablr re-branded WizzFinancial agrees deal to acquire Bahrain Financing Company
Deal creates the largest money transfer group in the region with plans to operate in over 30 countries
currency exchange
New Finablr owners announce ‘ambitious expansion plans’ for troubled UAE payments firm
UAE-Israeli consortium of Prism Group AG & Royal Strategic Partners teamed up in December to buy the assets of Finablr Plc
currency exchange
New Finablr owners in merger talks with Bahraini payments firm
UAE-Israeli consortium that acquired UAE Exchange is in merger talks with Bahrain’s BFC Group Holdings
ADCB
ADCB sees creditors approval for NMC restructuring in first half
Bank recorded $450m in provisions and interest in suspense toward NMC, Finablr Plc and associated companies last year
Finablr
New Finablr owners hire Moelis and pledge to reopen UAE Exchange
Prism Group AG and Abu Dhabi’s Royal Strategic Partners acquired Finablr for $1 in December last year
Finablr
UAE-Israeli consortium to snap up troubled Finablr for $1
Affiliate of Prism Group and Abu Dhabi’s Royal Strategic Partners will pay the nominal consideration and provide working capital
Binay Shetty
Embattled billionaire BR Shetty, son Binay hire restructuring experts
Duff & Phelps says will support family efforts in dealing with financial liabilities related to exposures to NMC and Finablr debts
Bavaguthu Raghuram Shetty
$1.9bn wiped off NMC Health value as shares slump after report
NMC Health shares tumble the most on record on Tuesday after hospital operator became the latest target of short seller Carson Block’s Muddy Waters
BR Shetty
Finablr cuts IPO value amid weak investor demand, volatile markets
The new Finablr price implies a market value of $1.6bn versus an initial indicated value of as much as $2.3bn
Bavaguthu Raghuram Shetty
Finablr is said to struggle to find enough buyers for London IPO
Finablr’s sale opened for investors on May 1 and had sought to value the company at as much as $2.4bn and raise as much as $677m
BR Shetty
Finablr’s $200m IPO to be completed by mid-May
Finablr CEO Promoth Manghat said he expects the listing will allow the firm to scale up and explore new opportunities in the Middle East, Asia and Africa
BR Shetty
UAE payment firm Finablr to launch London IPO
Holding firm Finablr is behind brands UAE Exchange, Travelex Holdings and Xpress Money
BR Shetty
BR Shetty’s FInablr buys Indian digital payments provider
UAE-based Indian billionaire’s Finablr acquires TimesofMoney from Network International
BR Shetty
BR Shetty’s Finablr said to hire firms for London IPO in 2019
Finablr, the holding company for businesses including UAE Exchange, Travelex Holdings and Xpress Money, has reportedly hired JP Morgan and Barclays
BR Shetty
BR Shetty’s Finablr raises stake in digital gifting platform
Finablr increases its stake in Swych, with a follow-on Series B investment to become a majority shareholder