Islamic Finance

Bahrain’s GFH acquires stake in UAE fintech company Marshal

GFH Financial Group has acquired a 70% stake in fintech company Marshal, the Bahrain-based investment group said in a statement on Wednesday (Feb 19).

UAE-based Marshal provides payment technologies for companies including banks, petroleum consortiums, retail groups and government agencies.

GFH said Gaurav Dhar will continue to serve as Marshal CEO.

GFH will hold 6.3%, GFH’s investors will hold up to 63.7%, and the existing owner will hold up to 30%, said the investment group.

It expects the investment to make an ROI multiple of 2.0x over the investment period of 5 years and will have a positive impact on GFH’s financials.

The transaction was made through GFH's investment banking arm, GFH Capital.

GFH did not disclose the value of the deal.

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