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| Islamic companies in the Gulf region are seeking bargains in Western markets |
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(Sukuk.net) Islamic companies in the Gulf region are seeking bargains in Western markets hurt by the global crunch, however, Sharia-compliant merger principles still need development, according to a partner at an international law firm, Trade Arabia reported.
Head of Islamic Finance at Norton Rose, Neil Miller, has relocated from London to Dubai to develop Islamic principles of mergers and acquisitions (M&A), project finance and other deals. Miller said that major regional investors have showed interest in doing an M&A deal sometime in 2009.
He expected that potential Islamic business leaders will probably some bargains into the second or even the third quarter of this year, and would be ready to make purchases once the global markets settle.
Gulf sovereign wealth funds and other state-linked investment vehicles have previously said that since the economic crisis worsened in 2008, they saw potential investment opportunities emerging from the downturn.
Source: Sukuk.net
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