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(From Arabies Trends)
SHUAA ACQUIRES ONIC STAKE
Dubai-based investment bank Shuaa recently acquired a 16.7 percent stake in Oman National
Investment Corp. (ONIC) for over $20 million. The ONIC stake was earlier held by Abraaj
Capital, a private equity firm that had bought into the Omani firm in early 2003. Shuaa thus
now becomes the single largest shareholder in ONIC, and will be getting representation on the
investment bankOs board. After some very testing times in the early part of this decade ETH