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March, the global food chain, has acquired 100% of its Dubai branch, the first of its kind since the UAE's new laws on direct investment abroad, allowing for 100% foreign ownership in certain sectors.
Prior to the transaction, Mars held a 49% stake in its Dubai branch, which was the highest foreign equity share permitted by offshore investment legislation in the past.
Clyde & Company provided advisory services to this transaction, noting that it reflected the importance of a long-term commitment to its operations in the UAE, highlighting the importance of development for customers from the point of view of the structure of their business.
"This is a very important step for the company and will contribute to its expansion and development in the Middle East," Hassan Hassan, General Counsel of Mars Middle East and Africa, told MEED.
As part of another investment, FinTech's technology FinTech, invested by the German company Dubai Investment Corporation, represents a billion dollars, making it one of the largest startups in Europe, according to Bloomberg News.
The company recently raised $ 40 million in investments, bringing total investments in the company to $ 200 million, the agency quoted Martin Seidler, chief executive of Nambers. The company plans to use its latest investment to support its expansion outside of Germany, particularly in Britain.
Seedler added that Nampers helps users manage their bank accounts, credit card information, mobile banking and personal finances. The company's application currently employs around 2 million users and its assets are valued at $ 11.1 billion.
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