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Shore Capital Group plc Acquires a 5% interest in Dubai based Boutique
2009-07-30
Shore Capital Group plc, the listed investment banking group focused on equity capital markets and alternative asset class fund management, has today acquired a 5% interest in Full Circle Investments FZC, a corporate finance, consulting and private placement firm based in Dubai.
The two companies have formed a strategic alliance that is intended to help build Shore Capital's representation in Dubai and the region, and in particular Abu Dhabi, Saudi Arabia, Kuwait and Bahrain, where the two companies will seek to marry deals with capital.
Full Circle Investments is a Dubai-based boutique that offers strategy consulting, corporate finance and private placement capabilities to corporate clients and investment groups. Its people come from the multinational corporate world and combine expertise and capabilities in investment banking, corporate finance, management consulting and private equity.
The consulting division offers a broad range of services including transaction and post-transaction support, expert financial modelling and valuation, commercial and strategic due diligence, as well as business reviews, business plan development and
investment strategy recommendations. Within the corporate finance and private placement division, its focus has mainly been on pre-IPO and M&A opportunities.
Separately, Shore Capital and Full Circle Investments have entered into a marketing and distribution agreement.
Howard Shore, Executive Chairman, commented:
"We started working with Ghassan and Laya Medawar in early 2008. We have entered into a distribution and marketing agreement with their company on the basis of their professionalism and excellent relationship with key potential clients in the region. We have cemented this relationship by taking a strategic stake in the business."
Ghassan Medawar, Chief Executive of Full Circle Investments, commented:
"We are delighted to welcome Shore Capital as a shareholder in our company. Shore Capital has an established track record of structuring deals and managing funds across Europe. Among the strengths of Full Circle Investments is our access to leading financial institutions, family offices and trade groups in the Middle East. We believe strongly in our ability jointly to combine our strengths to bring lucrative deals and value to investor groups in the Middle East, particularly the Gulf states, seeking exposure to European assets."