UAE Investor Buys Danish Ship Finance in Bid to Build Portfolio
- Magellan Capital to pay more than €700 million in deal
- Investors targets three more deals for $200 million this year
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United Arab Emirates investor Magellan Group agreed to pay more than €700 million for lender Danish Ship Finance as the Middle East firm makes its first major investment in an effort to build a diverse portfolio.
Magellan, with roots in the marine services industry, wants to expand its acquisition into the advisory and services businesses, Chief Investment Officer Ahmed Omar said in an interview. Danish Ship Finance, now in its seventh decade, started as a state-run financier.