DUBAI : Majid Al Futtaim (MAF), one of the Middle East’s largest retail and entertainment groups, has categorically denied media reports suggesting the company is exploring a stake sale or considering major structural changes.
In a sharply worded statement, the Dubai-headquartered group described the claims as “entirely inaccurate, unfounded and misleading,” insisting there are no discussions or plans to alter its ownership, governance or corporate framework.
The response follows a recent Bloomberg report that suggested government-appointed officials were assessing strategic options for the group, including a potential minority stake sale or an IPO. MAF said the report misrepresented the company’s position and failed to reflect its ongoing strategy.
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According to the statement, the conglomerate remains wholly committed to its current ownership and board structure, which it says continues to steer the company with clarity and long-term vision as it enters its fourth decade in business.
MAF also highlighted its strong financial profile, pointing to the success of its latest hybrid bond issuance, which was oversubscribed more than five-and-a-half times and priced at 5.75% — an outcome the group said reflects continued investor confidence.
The company emphasised that it remains focused on disciplined growth across its core sectors of retail, properties, leisure and entertainment, noting that it “continues to be a resolute pillar of economic value across the MENA region.”
MAF operates the Carrefour franchise in multiple countries, owns and manages major shopping destinations such as Mall of the Emirates and Mall of Oman, and runs landmark leisure attractions including Ski Dubai and VOX Cinemas.
The group reiterated that its strategic direction is firmly in place and that any speculation suggesting otherwise is “misleading and unaligned with the company’s reality.”
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