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Al Marsad Newspaper – Agencies: “Bloomberg” reported that an Emirati-Israel coalition will acquire “Finablr”, linked to the ailing group “NMC”, for a dollar, capping the collapse of a company worth two billion dollar market.
UAE and Israel
The business alliance includes the Emirati group “Royal” and the Israeli group Prism. According to Bloomberg, a subsidiary of the Prism Group and strategic partners in Abu Dhabi will pay the nominal fees and provide working capital for the activities and operations of Finablr Financial Services.
One dollar
Last April, Finablr revealed debts worth $ 1 billion that were hidden from the company’s board of directors and that these funds were most likely being used for purposes outside the company.
The scandal also affects the health group “NMC”, as the agency “Bloomberg” earlier spoke of the loss of billions of bank money borrowed by the management group of Emirati hospitals “NMC” and in the midst of discussions about fraud and debts used for unknown purposes.
“Bloomberg” says new buyers of “Finablr” will pay $ 190 million if the funds are recovered from parties involved in the fraud.
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