FTI Capital Advisors Assists e& on Acquisition of ServiceMarket
Dubai, 21 February 2023 — FTI Consulting, Inc. (NYSE: FCN) today announced that its wholly-owned investment banking subsidiary, FTI Capital Advisors DIFC Limited (“FTICA”), acted as financial advisor to Emirates Telecommunications Group Company PJSC (“e&”), on its acquisition of Service Souk DMCC (“ServiceMarket”), an online marketplace for home-related services.
ServiceMarket focuses on the online household services market for moving, cleaning, home improvement and home healthcare. The transaction will complement and expand the range of digital services that e& provides through its own online marketplace in the United Arab Emirates, which includes food and grocery delivery.
Fede Membrillera, a Senior Managing Director and Global Co-Lead and TMT Lead for FTI Capital Advisors, commented: “With this transaction, e& has demonstrated its commitment to expand its consumer offering beyond traditional communication services and stay relevant to changing customer demands in the consumer space. We were pleased to have an opportunity to leverage our decade-long M&A experience in the digital-native consumer services space to support e&’s strategic goal.”
About FTI Capital Advisors, LLC
FTI Capital Advisors (“FTICA”) is a global boutique middle market investment bank that specializes in M&A, capital raising, valuation and opinions, and special situations mandates across targeted industry sectors – including deep credentials in the media and entertainment sector, as well as in the energy, real estate, healthcare, and industrial sectors. Backed by the power of FTI Consulting’s worldwide network of professionals, FTICA combines deep industry expertise with investment banking and transaction execution experience to deliver value-enhancing outcomes for our clients. FTICA is registered with FINRA in the United States and engages in securities transactions pursuant to that registration. In non-US securities transactions, FTICA may be required to work with securities dealers registered in other countries. FTI Capital Advisors, LLC (member FINRA/SIPC) is the wholly-owned investment banking subsidiary of FTI Consulting, Inc. (NYSE: FCN).
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Source: FTI Consulting, Inc.