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- Blue Owl Opens Abu Dhabi Base; Saudi Startup Ninja Eyes HungerStation; DOJ Clears $110B Paramount-WBD Merger
Blue Owl Opens Abu Dhabi Base; Saudi Startup Ninja Eyes HungerStation; DOJ Clears $110B Paramount-WBD Merger
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Monday, June 15, 2026
Happy Monday everyone!
Wall Street expansions, shifting food delivery dynamics, and landmark media consolidation are reshaping global corporate landscapes. Private credit manager Blue Owl Capital, which oversees $315 billion in assets, has opened a regional headquarters at Abu Dhabi’s ADGM to draw closer to sovereign funds amid rising default strains. Concurrently, Saudi quick-commerce unicorn Ninja, valued at $1.5 billion, is weighing a strategic acquisition of Delivery Hero’s Saudi unit HungerStation, challenging Uber's broader €12 billion takeover strategy. Meanwhile, the US Department of Justice has formally approved Paramount’s multi-billion-dollar $110 billion acquisition of Warner Bros Discovery, advancing the creation of a massive entertainment entity.
Markets
EGX30 | 51,994.63 | 2.31% |
DFMGI | 5,954.04 | Closed |
ADX | 9,804.97 | Closed |
Tadawul | 11,106.11 | 0.58% |
Blue Owl Capital Establishes Operations at Abu Dhabi Financial Hub
What Is It About?
Blue Owl Capital, which oversees $315 billion in alternative assets, has opened a regional headquarters in Abu Dhabi. The firm joins other major international financial players like BlackRock and Bain Capital at the city's financial center. The office launch occurs as Gulf sovereign entities look to grow their investment presence, having quadrupled their private credit allocations to nearly $80 billion over the last four years.
Why It Matters?
The corporate expansion shows that major Wall Street firms are maintaining their long-term growth plans in the UAE despite local geopolitical uncertainties. Shifting closer to massive capital providers like Mubadala helps these asset managers secure vital funding. However, the move comes at a time when the wider private credit sector is facing rising loan defaults and higher investor withdrawal requests globally.
What’s Next?
The newly established team will focus on securing institutional capital and structured fund partnerships across the Middle East. Market analysts will monitor if this close physical proximity helps the asset manager bypass the redemption caps currently limiting its domestic consumer funds.
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Saudi Startup Ninja Competes with Uber for Regional Delivery Networks
What Is It About?
Riyadh-based quick-commerce group Ninja is formulating an acquisition proposal for Delivery Hero’s Middle East businesses. The startup, which reached a $1.5 billion private valuation last year, plans to target the Saudi food platform HungerStation before potentially bidding on Dubai-based Talabat. This regional move directly challenges Uber, which recently raised its investment stake in Delivery Hero to 37% as part of a €12 billion global buyout strategy.
Why It Matters?
The Middle East has become a critical battleground for digital delivery firms looking for growth outside of highly competitive Asian markets. If Ninja successfully buys back HungerStation—originally started by one of its own founders—it would disrupt the American ride-hailing company's target purchase without spark a wider bidding war. It demonstrates that well-funded local tech companies are willing to push back against consolidation by global tech platforms.
What’s Next?
Ninja could submit its formal corporate proposal to Delivery Hero's board of directors this week. Shareholders will evaluate if the individual values of the Middle Eastern assets can fetch close to the €10 billion target estimated by regional analysts.
US Regulatory Officials Clear Paramount’s Multi-Billion Media Merger
What Is It About?
The US Department of Justice has officially approved Paramount’s $110 billion purchase of Warner Bros Discovery. The federal antitrust signoff was granted without requiring the entertainment company to make major structural asset sales or concessions. The combined business will form a massive entertainment entity built to distribute entertainment and media directly to global audiences.
Why It Matters?
The transaction marks a major consolidation wave within the traditional entertainment sector as older studio brands join forces to compete against dominant tech platforms. Backed by substantial Gulf investment networks, the newly formed media group possesses the financial scale needed to fund high-budget content creation and software engineering. The lack of government objections shows a highly permissive regulatory stance toward corporate media mergers.
What’s Next?
Corporate attorneys are working to finalize the remaining administrative details to close the transaction quickly. Attention will now shift to individual US states and international boards to see if any local regulators attempt to delay the consolidation.
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👨💻From Smashi Business’ Desk
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🔍In other news…
How Keeta and ASK Group plan to reshape global finance from the UAE
UAE born coffee brand Saddle is officially expanding into Qatar
Byju's founder faces mounting pressure from Qatar wealth fund
Majid Al Futtaim says Tilal Al Ghaf construction remains on schedule
🦄 World of Startups
Dubai gifting marketplace Udora secures $10M
Saudi fashion platform Aya secures $7m to scale real time production
Jordan-based Tamatem has acquired Istanbul-founded Playable Factory, strengthening its push into performance marketing and user acquisition.
Egypt’s Lucky Raises USD 23M Series B. Its Consumer Credit Model is Expanding Into North Africa
“We Got Funded!” Maison Safqa Raises US$620,000 in Pre-Seed Funding to Expand Luxury Flash-Sale Platform Across GCC
Via Separations, US-based deeptech startup, raised $36M in funding from Aramco Ventures (Saudi), and other global investors.
