UAE's largest bank FAB appoints first female CEO, The Debt Panel: 'I lost my job and was in hospital for three months with Covid-19. Mr. Saeed Mohamed Butti Mohamed Khalfan Al Qebaisi ("H.E. NMC has said Muddy Waters’s claims are false and the company hired former FBI Director Louis Freeh to conduct an independent review. The age of Emirati billionaire Khalifa bin Butti Al Muhairi is 39 years. Representatives for the central bank, the ministries of finance and economy – all members of the Financial Restructuring Committee – didn’t immediately respond to requests for comment. In 2019, NMC reported lower net profit for the first half of the year of $138.1 million (Dh506.8m) while revenue climbed 33 per cent year-on-year to $1.24 billion. Earlier this week, the company said it had received buyout interests from Italian-backed GKSD Investment Holding and US-based KKR. He sold a combined 15 per cent stake in the company along with former director Saeed Mohamed Butti Mohamed Khalfan Al Qebaisi in January. GKSD subsequently confirmed it could bid, but KKR said it does not intend to make an offer. Early errors, botched lockdowns and deadly virus variant results in six-figure UK death toll, These are the top 10 most polluted cities in the world, Jordan updates entry rules for tourists: everything to know before you go, 'I feel I have so much still to do': Why Giorgio Armani won't slow down, Two thirds of people in Arab bloc say climate change is ‘emergency’. the founder and chairman of Abu Dhabi-based KBBO Group, which has investments in healthcare, education The company also holds stakes in food retailers, private schools and owns “one of the largest privately owned art collections” in the Gulf with pieces by Matisse and Picasso, according to its website. Billionaire businessman Khalifa, 39 is the Chairman of KBBO Group, based in Abu Dhabi which focuses in healthcare, retail and money exchange. This would reduce the amount of shares publicly held by Mr Shetty by 9.58 per cent. previously pledged with Al Salam unencumbered by Khalifa Bin Butti and H.E. ALL RIGHTS RESERVED. UAE hospitals operator NMC Health said its vice chairman Khalifa Al Muhairi had resigned on Friday with immediate effect. Khalifa bin Butti Omeir bin Yousef is an entrepreneur and businessperson who founded Brokerage House Securities, CB Financial Services Ltd. and KBBO Group and … Nearly 1.99 million of those pledged to UAB have been sold as enforcement of security. KBBO and some of NMC’s other major shareholders also held a significant stake in financial services firm Finablr, which has also been suspended. The UAE freezing directive, which was issued by the central bank last week, extends to two other NMC shareholders, Khalifa al-Muhairi and Saeed Mohamed Butti Mohamed al-Qebaisi, the sources, who had seen the order, told Reuters. KBBO chairman Khalifa Bin Butti Omeir Al Muhairi stepped down as vice-chairman of embattled NMC in February amid confusion over the exact size of his stake in the hospital operator Abu Dhabi, Finance Saeed Bin Butti and their associated companies (together, the "Shareholders") in NMC Health plc. NMC did not immediately respond to a request for comment from The National. The advisers said they are “unable to advise the company to the current position in the remaining 428,571 shares”, as well as the position in relation to approximately 11.5 million shares understood to be held by FAB and 324,210 shares understood to be held by Al Salam. NMC Healthcare, which runs hospitals and clinics in a dozen countries, was founded by fellow billionaire B.R. Bin Butti Holding Group meets Niger: Building relationship for New Investments. In his resignation letter to the Board, Mr Buttikhi confirmed that he first became aware of previously unreported share transactions between the Principal Shareholders in recent days when they were notified to, and then announced by, the Company. NMC Health plc ("NMC" or the "Company") notes the pricing announcement issued this morning in connection to the sale of shares in NMC beneficially owned by H.E. A further 6.5 million were transferred to Al Salam Bank Bahrain, of which 6.17 million have been sold. Left holding the mic: will shareholders still love Twitter and Facebook? Saeed Bin Butti. Also on Friday, following the resignation announcement, the company said it received notification from the advisers to Mr Al Muhairi and Mr Al Qebaisi in response to the reviews being undertaken in order to verify their total interests in the company. KBBO and KPMG declined to comment. He is NMC’s second biggest shareholder, according to Refinitiv data. What role does Davos play in a world gone virtual? Khalifa bin Butti Al Muhairi Age. It’s not immediately clear how much debt KBBO is looking to restructure. KBBO invests in a wide range of sectors from healthcare to financial services. Khalifa bin Butti al-Muhairi is worth close to $2 billion, and founded the investment group KBBO Prince Al-Waleed was worth a reported $40 billion but lost a great deal of his wealth after his cousin, the crown prince, had him arrested for corruption One of the world’s most eligible royals is officially off the market. NMC Shares Al Muhairi had pledged NMC shares as collateral against loans, according to a December 2017 filing. From the UAE, this year’s new addition includes Rizwan Sajan of Danube Group, Khalifa bin Butti Al Muhairi of NMC Healthcare, Philip Day of Edinburgh Woollen Mills, Saeed bin Butti Al Qebaisi of NMC Healthcare, Suhail Bahwan of Suhail Bahwan Group and Adani Vinodbhai Shantilal of Adani Enterprises. * KHALEEFA BUTTI OMAIR YOUSIF AHMED AL MUHAIRI DISCLOSES 3.14% STAKE IN NMC VERSUS PRIOR STAKE OF 19.73% - FILING Source text for Eikon: Further company coverage: We have seen that many people are interested to know the age of the second husband of Princess Ameera al-Taweel and why not? NMC HEALTH PLC (the 'Company') ... leaving 324,210 Ordinary Shares that were previously pledged with Al Salam unencumbered by Khalifa Bin Butti and H.E. Is now the time to invest in post-Brexit Britain? Saeed Bin Butti are unable to advise the Company to the current position in the remaining 428,571 Ordinary Shares. He is also vice chairman of Centurion Investment, which is led by Mr Al Qebaisi. Al Muhairi had pledged NMC shares as collateral against loans, according to a December 2017 filing. NMC Health backer weighs strategic options, debt revamp, The SME Story: Lenka Basweidan, founder of Arabee Learning, UAE updates quarantine rules for federal government employees, Abu Dhabi lender FAB names Hana Al Rostamani as first female CEO, Covid-19: UAE denies inaccurate reporting of data, adds that vaccination may be required every year, UAE residency: Foreign students can now sponsor families, UAE cabinet approves decision to establish embassy in Tel Aviv, US, UK condemn air attack on Riyadh which ‘targeted civilians’, Dubai’s Emirates to resume flights to Australia. – Pocketful of Dirhams, Can Bitcoin’s value really soar to $400,000? Following its 2012 London listing, NMC was promoted to the blue chip FTSE 100 index in 2017. ', Off-plan Dubai properties remained most popular among investors last year, What millennials should do with their Covid cash – Pocketful of Dirhams. KBBO chairman Khalifa Bin Butti Omeir Al Muhairi stepped down as vice-chairman of embattled NMC in February amid confusion over the exact size of his stake in the … Shetty. • The advisers to Khalifa Bin Butti and H.E. Its shares were down 2.5 per cent Friday. The filing on Monday said 20 million shares held by one of Mr Shetty’s companies, BRS International Holding, could ultimately be held by Mr Al Muhairi and Mr Al Qubaisi. UAE salary guide 2021: How much should you be earning? Neom’s head of technology describes his vision for the future city, Can Artificial Intelligence make us better investors? In addition, … Khalifa Bin Butti Al Muhairi is the chairman of KBBO Group, an Abu Dhabi-based group with investments in healthcare, money exchange and retail. NMC’s website says Mr Al Muhairi “led its successful IPO and premium listing on the London Stock Exchange in 2012”. KBBO chairman Khalifa Bin Butti Omeir Al Muhairi stepped down as vice-chairman of embattled NMC in February amid confusion over the exact size of his stake in the hospital operator, which is being run by administrators Alvarez & Marsal Inc. after it succumbed to creditor demands. NMC Health owns and manages more than 200 healthcare facilities, including hospitals, medical centres, day surgery centres and home health clinics across the UAE, UK and Europe. 27 February 2019. The company's stock has lost two-thirds of its value since mid-December when the US short-seller Muddy Waters alleged that NMC had manipulated its balance sheet and inflated the prices of companies it acquired. – Pocketful of Dirhams. KKR and GK Investment prepare bids for under-fire NMC Health, NMC Health hires former FBI head to investigate Muddy Waters allegations, NMC Health’s shares fall 17% as two investors sell down stake. Saeed Bin Butti") and their advisers are in the process of carrying out a legal review in order to verify the total interests of Khaleefa Bin Butti and H.E. of H. E. Saeed Butti Al Qebaisi and Mr Khalifa Bin Butti. How can I stop a debt agency from harassing me? NMC shares plunged since mid-December before being suspended amid allegations of fraud. Saeed Bin Butti. It has a venture with Guggenheim Partners offering advisory services to local family offices and institutional investors. Saeed Butti Al Qebaisi ("H.E. NMC Health Plc shares plunged after two major investors sold $493 million worth of shares well below the market price to reduce their holdings in the troubled healthcare group. It treats more than 8.5 million patients a year, according to its website. Investors Saeed Mohamed Butti Mohamed Khalfan Al Qebaisi and Khaleefa Butti Omair Yousif Ahmed Al Muhairi both sold about 15% of NMC for about 1,200 pence a share. KBBO Chairman Khalifa Bin Butti Omeir Al Muhairi stepped down as vice-chairman of embattled NMC in February amid confusion over the exact size of his stake in the … ... Khaleefa Butti Omair Al Muhairi Limited (KBO Limited) Khaleefa Butti Omair Yousif Al Muhairi (KBO) – Pocketful of Dirhams, What the US-China economic rivalry means for the Middle East: Business Extra, Counting down 10 big business moments from 2020: Business Extra, How to get your savings on track for a bumper 2021 – Pocketful of Dirhams, Feryal Ahmadi of DMCC on how global trade will be remapped in the 2020s, What’s in store for investors in 2021?– Pocketful of Dirhams, ‘Adapt or die’: the UN’s corporate sustainability pioneer shares lessons of 2020, separate regulatory filing to the London Stock Exchange. Deliberations over the debt restructuring are at an early stage, and no final decisions have been made on what actions will be taken, the people said. A separate regulatory filing to the London Stock Exchange, where its shares trade, on Monday said holdings by three of its significant shareholders had been "incorrectly reported historically to the company and the market", naming Mr Shetty, Mr Al Muhairi and Saeed Al Qebaisi. KBBO chairman Khalifa Bin Butti Omeir Al Muhairi stepped down as vice-chairman of embattled NMC in February amid confusion over the exact size of his stake in the hospital operator, which is being run by administrators Alvarez & Marsal Inc. after it succumbed to creditor demands. Established in 2008, KBBO Group is a diversified investment company headquartered in the UAE with operations across the MENA region, Europe, and the United States. Abu Dhabi-based KBBO Group, once one of NMC Health’s biggest shareholders, plans to restructure its debt and is weighing strategic options for the business, people familiar with the matter said. The Company refers to its announcement of 10 February 2020 and to the reviews being undertaken by its Joint Non-Executive Chairman, Dr. Bavaguthu Raghuram Shetty ("Dr. B.R. Shetty"), and his advisers, and by Mr. Khalifa Butti Omeir Bin Yousef ("Khalifa Bin Butti") and H.E. He is now the husband of Princess Ameera al-Taweel, the most famous princess of Saudi Arabia. Mr Al Muhairi is the founder and chairman of Abu Dhabi-based KBBO Group, which has investments in healthcare, education, retail, financial services and technology. January 2019 – Sheikh Hamed Bin Khadim Bin Butti Al Hamid, Chairman of Bin Butti Holding Group meet with The Niger President Mr. Mahamadou Issoufou and discussed the business plans for Niger. Earlier this week, NMC removed Mr Al Muhairi and chairman BR Shetty from board discussions on concerns that they may have misstated their stakes. © 2020 MOTIVATE MEDIA GROUP. Mr Saeed Mohamed Butti Mohamed Khalfan Al Qebaisi and Mr Khaleefa Butti Omair Yousif Ahmed Al Muhairi ("Mr Khalifa Bin Butti"). The company plans to negotiate with its creditors under a process supervised by the United Arab Emirates’ Financial Restructuring Committee, which was set up in 2018 to oversee out-of-court financial restructurings, one of the people said. Khalifa Bin Butti will retain a 4.7 per cent shareholding in NMC Health and commit to a six-month lockup. Please follow the instructions below to allow notifications to be sent from The National, Mr Al Muhairi is one of three shareholders who may have misstated their stake in the UAE healthcare company founded by BR Shetty. Of the approximately 20.4 million shares held by BRS, the advisors said 13.5 million were transferred to First Abu Dhabi Bank and 2.6 million pledged to United Arab Bank. 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