Saudi investment firm AlRajhi United will acquire a stake in Dubai-based investment banking advisor Badwa Capital through its affiliate AU GCC, according to a company statement on Monday.
No information was disclosed about the size of the stake or value of the deal.
The funds will be used for Badwa Capital’s expansion plans, the statement said.
Badwa Capital’s management will retain a majority stake in the firm, which will remain independent.
AlRajhi United is a Riyadh-headquartered international investment company, with offices in Jeddah and Dubai.
Meanwhile, Badwa Capital is based in the Dubai International Financial Centre (DIFC), and advises on mergers and acquisitions, debt financing, restructuring and investment.
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