Titan Company Limited (TITAN) — Announcement | 21 July 2025(2 announcements)

Titan Company announced it will acquire 67% of Damas LLC, the holding company for Damas jewellery business in GCC countries, through its wholly owned subsidiary Titan Holdings International FZCO. The transaction values Damas LLC at an enterprise value of AED 1,038 million and is expected to close by 31 January 2026, subject to regulatory approvals. The acquisition will expand Titan's jewellery presence across six GCC markets and includes a right for Mannai to sell or Titan to buy the remaining 33% stake after 31 December 2029. The deal is financed through debt, cash balances, and internal accruals.

Titan Company announced it will acquire 67% of Damas LLC, the holding company for Damas jewellery business in GCC countries, through its wholly owned subsidiary Titan Holdings International FZCO. The transaction values Damas LLC at an enterprise value of AED 1,038 million and is expected to close by 31 January 2026, subject to regulatory approvals. The acquisition will expand Titan's presence across six GCC markets and create synergies in retail and supply chain. Titan will retain the option to acquire the remaining 33% stake after 31 December 2029.