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Abu Dhabi / WAM
Waha Capital, an Abu Dhabi-based investment company, has acquired a significant minority stake in Dubai-based Channel VAS, a rapidly growing financial technology company.
Waha Capital’s new investment is approximately $55 million.
The acquisition adds to the diversification of Waha Capital’s principal investment portfolio, which holds stakes in several companies, including New York-listed aircraft leasing firm AerCap Holdings NV and UAE-based oil and gas services firm, National Petroleum Services.
“Through this acquisition, we are enhancing our portfolio by tapping into a high-potential industry and an innovative company backed by a best-in-class management team that already has an impressive track record,†said Salem Al Noaimi, CEO and Managing Director of Waha Capital.