EMPG and OLX Group merge MENA and South Asia operations to form $1bn Dubai-based tech company

  • Date: 02-Jun-2020
  • Source: Gulf Business
  • Sector:Economy
  • Country:UAE
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EMPG and OLX Group merge MENA and South Asia operations to form $1bn Dubai-based tech company

With the merger, OLX has become EMPG's largest single shareholder with 39 per_cent of shares. Dubai-based Emerging Markets Property Group (EMPG) and Amsterdam-headquartered OLX Group have merged their MENA and South Asia operations to form a Dhs3.6bn ($1bn) Dubai-based unicorn company.. Ammar Al Malik, managing director of Dubai Internet City, added, "Even in these exceptional times, Dubai has demonstrated its attractiveness as an international investment destination..