Dubai: Abu Dhabi investment entity IHC has launched a move to buy Chimera Investment, which has a portfolio of Dh22 billion in ‘proprietary’ assets. The latter’s wholly-owned subsidiary Chimera Capital Holding manages over Dh48 billion of assets under management.

Chimera also offers corporate finance advisory services, and in fact had advised IHC on its acquisition of 50 per cent of Kalyon Enerji Holding in Turkey in 2022, as well as, Q Holding’s buy of Tamouh Investment in 2021.

IHC intends to bring Chimera Capital into its fold under the ‘common control’ method. This entails a ‘combination in which all combining companies or businesses are ultimately controlled by the same parent company before and after the combination’.

Therefore, the transaction of Chimera Investment will ultimately be controlled by the same parent company.

More to follow...