GFH Financial Group is signing a landmark deal to attain 85 percent of The Entertainer.
GFH Financial Group said that up to $150 million will be invested in The Entertainer, the incentives provider and lifestyle app, following a takeover deal.
In a statement posted to Dubai Financial Market the Company said that The Entertainer is a key private equity investment in which GFH and its clients will invest throughout the holding period up to $150 million and GFH will hold approximately 5-10 percent of the transaction.
GFH Financial Group is signing a landmark deal to attain 85 percent of The Entertainer.
The Entertainer founded in 2001 in the UAE, grant consumers in 15 countries across the Middle East, Europe, Asia and Africa and they have offers and savings at fine dining restaurants, global restaurant franchises, leisure activities, water parks, beauty salons, fitness centres plus others savings on hotel nights around the world.
The Entertainer has launched a Smartphone app in 2013 and has totally shifted from print publication to data-driven technology company with 38 destination-specific products, and customized B2B solutions for corporate clients and offers from over 10,000 merchant partners.
A statement said, the founder and chairman, Donna Benton, continues as one of the key shareholders and executive management as last year’s annual turnover exceeded AED130 million, adding that the new deal sees the existing financial investors fully exit,
CEO of GFH, Hisham Alrayes said, "We see significant room for even greater value creation in the Company’s existing markets as well as new locations in the Middle East, Asia, South Africa and Europe, where it has recently established and is experiencing impressive growth."
