UAE based Indian billionaire BR Shetty’s Finablr Plc is selling its business to an Israeli UAE consortium for just $1, capping the collapse of a business that had a market value of 1.5 billion pounds ($2 billion) merely 12 months ago.
Finablr, the scandal-marred platform for payments and foreign exchange solutions, announced that it has entered into “a definitive agreement” with Global Fintech Investments Holding (GFIH), an affiliate of Prism Group of Israel, to sell to GFIH the entire issued share capital of Finablr Limited.”
Prism Group, linked to a former Israeli Prime Minister Ehud Olmert, has formed a consortium with Abu Dhabi’s Royal Strategic Partners (RSP) in connection with the transaction.
RSP, which is headed by Abubaker Al Khoori, is affiliated with Sheikh Hazza bin Zayed Al Nahyan, Vice Chairman of the Abu Dhabi Executive Council.
Prism Group, linked to a former Israeli Prime Minister Ehud Olmert, has formed a consortium with Abu Dhabi’s Royal Strategic Partners (RSP) in connection with the transaction.
RSP, which is headed by Abubaker Al Khoori, is affiliated with Sheikh Hazza bin Zayed Al Nahyan, Vice Chairman of the Abu Dhabi Executive Council.
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