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Damas and Amwal reach settlement
- United Arab Emirates: Thursday, September 02 - 2010 at 10:54
Saudi private equity firm Amwal Alkhaleej has announced that it has resolved its $22m legal dispute with Damas Investments and the Abdullah Brothers. The brothers said they have transferring 20 million shares in Damas International to the private equity company as part of a settlement. Amwal AlKhaleej sued the brothers, who are majority shareholders of Damas International, after accusing the jewellery retailer of not paying for shares it acquired before the Dubai company went public in 2008.
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StaffThursday, September 02 - 2010 at 10:54 UAE local time (GMT+4)
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