The National Investor (TNI), an investing and advisory firm listed in the United Arab Emirates, has announced plans to sell a portion of the company or withdraw specific assets.
A bourse filing on the Abu Dhabi Securities Exchange (ADX) states that the board of directors of the company discussed “non-binding” recommendations for a possible asset or interest sale in a meeting on Friday.
According to the statement, they have also carried on their conversation on certain non-binding offers they recently received concerning the possible purchase of certain of the company’s tangible and intangible assets or a portion of its equity.
On the proposals, no decision was made in the end.
In order to continue discussing the issue of “assets to be exited,” the board is scheduled to meet again at the start of the first quarter of 2024.
The board has urged management to proceed with the due diligence procedures and has agreed to call another meeting to wrap up the debate and decide on the best course of action for the assets that need to be sold.
The portfolio of the corporation includes significant holdings in the hotel, entertainment, and real estate sectors.
– End –
© All Rights Reserved, Gulf Property News.
