Marex expands in Abu Dhabi with Aarna takeover: UK-based commodities broker Marex fully acquired ADGM-based broker Aarna Capital as it looks to expand in the Middle East and grow its clearing business, according to a press release. Aarna specializes in clearing and risk management solutions in energy, base and ferrous metals.

Details: While the company did not disclose the exact value, the acquisition “represents three to four times expected income after tax… and is at an attractive valuation,” according to Marex CEO Ian Lowitt. The acquisition is expected to contribute 5% to Marex Group's net income after tax beginning FY 2025 onwards. Marex is slated to close the transaction in late 2024 after receiving regulatory approval.

What’s Marex getting? The acquisition adds 180 UAE-based clients — including institutional investors, family offices, and corporate clients — to Marex’s portfolio, significantly expanding its client base in the region.

Marex is no stranger to the UAE: The British firm already operates in the UAE from its Dubai office, which includes a team of 60 employees.

Marex recently went public: The firm went public on Nasdaq in April, raising USD 292 mn and achieving a market valuation of USD 1.35 bn.

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