DAMAC Appoints Arqaam Capital As Financial Advisor

DAMAC Properties announced in a bourse statement that it has appointed Arqaam Capital as Financial Advisor. The appointment was made as DAMAC evaluates an offer to acquire 100% of the issued and paid up ordinary share capital of Damac received from Maple Invest Co. Limited, an entity owned by Hussain Sajwani. Maple offered AED2.2 billion ($595 million) as a voluntary conditional offer for the issued share capital of Damac not already owned by Maple.