Dubai’s sovereign wealth fund is exploring a potential sale of British software services company SmartStream Technologies Group, according to people familiar with the matter.
Investment Corp. of Dubai is working with advisers at Deutsche Bank AG to identify potential suitors for the business, the people said, asking not to be identified as the matter is private. SmartStream’s owner is seeking about $1 billion in a potential sale that could draw both financial and strategic investors, the people said.
Dubai is working on an ambitious plan to privatize as many as 10 firms to raise cash and revive its capital markets. The city’s main power and water company raised $6.1 billion in the world’s second-biggest initial public offering this year, defying a global slowdown in listings.
Read more: BNN Bloomberg
