March 25, 2019 / 8:40 AM / 2 months ago

UAE's Shuaa Capital, ADFG mandate banks on merger plan - ADFG

DUBAI, March 25 (Reuters) - Shuaa Capital and Abu Dhabi Financial Group (ADFG) have mandated UBS and JPMorgan Chase & Co on a potential merger between the United Arab Emirates investment firms, an ADFG spokesman said.

Dubai-listed investment bank Shuaa Capital said on Sunday it had started talks on a possible merger with ADFG.

Shuaa Capital, UBS and J.P. Morgan declined to comment on ADFG’s remarks on Monday.

Reporting by Hadeel Al Sayegh Editing by Edmund Blair

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