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Al Habtoor group

Al Habtoor chairman announces family succession plan

January 8, 2013

Al Habtoor Group, the Dubai-based construction, hotels and cars conglomerate, is putting in place a trust to ensure future family involvement in the company.

A spokesperson for the family business confirmed on 8 January that a family trust arrangement was being introduced to smooth succession from chairman and founder of the group Khalaf Al Habtoor to the second generation.

Family business roundup: Mixed feelings over initial public offerings

September 11, 2012

Initial public offerings have taken centre stage, with family-controlled Coty reportedly planning to delay its IPO in New York, while the Al Habtoor Group is hoping to list next year.

According to media reports, fragrance business Coty, which is controlled by the German Reimann family through the holding company Joh A Benckiser, will postpone its planned $700 million (€544 million) listing until next year.

It comes amid a sluggish IPO market and just weeks after Michele Scannavini, a Coty executive, was named chief executive.

UAE relaxes IPO rules for family businesses

November 2, 2007

A new law could see a wave of family business IPOs in the UAE, but analysts and legal experts say the change is also an incremental step toward a much needed modernisation of the region’s business climate. Andrea Chipman reports …

Andrea Chipman is a freelance journalist based in the UK.

A recent change in the law on IPOs in the UAE could provide a much-needed catalyst to open up local family businesses to foreign shareholders and more broadly increase liquidity in Gulf equity markets.