Muhammad Ali Yassin, CEO of Strategies and Clients at Al Dhabi Capital, is closely watching the financial and legal report that DAMAC Properties said it would issue following its disclosure on the Dubai Financial Market (DFM). The report, prepared by independent advisors appointed by DAMAC, is meant to reassure shareholders that the board is working to maximize shareholder benefit and that the terms of the acquisition are fair.
However, Yassin told Forbes Middle East that it is unlikely the report will be critical. “What is being done is mainly giving the acquisition an official appearance,” he said. In reality, since Hussain Sajwani owns a majority stake in DAMAC, he can choose the timing and price of the offer, while minority shareholders have little ability to influence or reject the acquisition.
