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Monday, December 7 - 2009

Dubai Group buys 51% stake in Bahrain's Acacia

  • Bahrain: Sunday, September 28 - 2008 at 15:15

Dubai Group, the leading diversified financial services company of Dubai Holding, today announced it has acquired 51% of Acacia Real Estate Limited, the real estate investment company of which Bahrain's TAIB Bank is the principal founding shareholder, through a capital increase. Dubai Group made the $76.9m equity injection through its subsidiary, Dubai Ventures Group, to become the largest shareholder of Acacia. Dubai Ventures Group holds four seats on the company's Board of Directors.

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