Arab Jordan Investment Bank (AJIB) acquires a 55 per cent stake in Arab Advisors Group

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By combining its own research capability with those of Arab Advisors, AJIB will provide a full range of researched product to its own clients as well as those of Arab Advisors Group. The Arab Advisors Group will enter into new verticals such as equity and financial research in the regional markets in addition to other major economic sectors.

The Arab Jordan Investment Bank (AJIB) and Arab Advisors Group concluded an agreement by which AJIB buys a 55% stake in Arab Advisors Group. The cash transaction will allow AJIB and the Arab Advisors Group to leverage strategic synergies to enhance the quality and scope of services of Arab Advisors Group and leverage these services to enhance the investment banking activities of AJIB.

With the Arab Advisors Group becoming an AJIB subsidiary, the company is set to expand its coverage of sectors with a very near launch of equity and financial research in regional stock markets. The aim is to provide top quality, independent and objective research and analysis of all major economic sectors in the region.

Arab Advisors Group -a private shareholding company registered in Jordan- will now be owned by AJIB (55%) and Mr. Jawad Abbassi (45%). Arab Advisors Group current management team will remain intact and Mr. Abbassi will continue to be the General Manager of the company. AJIB will be fully active in the new Arab Advisors board of directors and will be instrumental in steering the company in the upcoming era of rapid expansion.

'We have been monitoring Arab Advisors Group growth and regional success for a few years now and we believe that the company will continue its top quality research and analysis services as an autonomous subsidiary of the AJIB group'. Mr. Hani Al Qadi, AJIB Deputy Chairman and General Manager commented. 'AJIB will lend all needed support to Arab Advisors Group as the company expands into other verticals beyond the media and telecoms verticals on which it has hitherto focused with great success and effect'. Mr. Al Qadi added.

'AJIB has been a regional pioneer in investment banking with many successful IPOs and structured finance deals in the region. The partnership between AJIB and Arab Advisors will allow us to formulate new and enhanced services for our existing client base as well as expand the services to a wider client base.' Mr. Jawad Abbassi, Arab Advisors Founder said. 'Being a part of the AJIB Group ushers in a new era of expansion and growth for Arab Advisors Group. We are very happy with this strategic transaction and promise our clients a continued professional and quality service.' Mr. Abbassi added.