Qannas Investments Limited, fund of ADCM Ltd agreed to acquire 50% stake in Integrated Financial Group LLC for $20.4 million.

Qannas Investments Limited (AIM:QIL), fund of ADCM Ltd agreed to acquire 50% stake in Integrated Financial Group LLC for $20.4 million on November 14, 2014. Pursuant to the transaction, Qannas Investments Limited will invest $20.4 million in acquiring an equity interest of up to 50% in Integrated Financial. IFG will acquire, by means of a share-for-share swap with the existing shareholders, a controlling interest in First Gulf Financial Services LLC and Integrated Capital PJSC.

Stuart Andrews, Henrik Persson and Simon Johnson of finnCap Ltd acted as financial advisor to Qannas Investments.