Monday, September 20, 2021

Dubai’s Emaar mulls sales of fashion e-commerce business Namshi

THE WHAT? Dubai’s Emaar is reportedly mulling the sale of its fashion e-commerce business Namshi, according to a report by Reuters. 

THE DETAILS Emaar Malls initially acquired a 51 percent stake in Namshi in 2017, before purchasing the remaining 49 percent in 2019 for approximately $130 million. 

The company is said to have has approached some banks regarding advice on the potential deal, according to sources. 

THE WHY? The sale may create proceeds of $600-$700 million, however, a sale through a special purpose acquisition company (SPAC) listing abroad could generate more.

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