Al Futtaim Capital acquires majority stake in Depa
Al Futtaim Capital conducted two transactions—on 27 and 30 July acquiring a total of 26.57 per cent of Depa.
Al Futtaim Capital, the investment and business development arm of Al-Futtaim with a primary focus on listed and private equity investments, has acquired a 26.57 per cent stake in Depa, leading global interior solutions group.
The company acquired 71,364,014 ordinary shares on the 27 July 2017 and another 6,390,750 ordinary shares on the 30 July 2017. The company paid $0.37 per share in both transactions, spending approximately $28.76 million on its increased stake. Following the transaction, Al Futtaim Capital now holds 163,313,849 shares, equivalent to a 26.57 per cent stake in Depa.
Depa has a total issued share capital of 614,726,448 ordinary shares and outstanding ordinary shares in issue of 607,860,365.
Depa is a strategic management company specialising in global interior solutions. Depa’s four Key Business Units hold leading positions in their respective markets: Design Studio, Vedder, Depa Interiors Group and Deco Group. The Group’s operations are centred on three regional hubs—Asia, Europe and the Middle East.
Depa Limited is listed on the Nasdaq Dubai (DEPA:DU) and is headquartered in Dubai, United Arab Emirates.