Kaya Middle East FZE (KME FZE), Kaya’s step-down subsidiary, has acquired a 100% equity stake in Kaya Beauty Clinic – Sole Proprietorship LLC (KBC LLC), a company that operates clinics in Al Ain, UAE. Foreign companies can now have 100% ownership in the UAE due to recent regulatory changes that have liberalised foreign ownership.
As a result, KME FZE acquired KBC LLC. Previously, KME FZE had contractual arrangements in place for the business conducted by KBC LLC (as a sole establishment of the UAE national owner). KME FZE was already in operation and reaping full benefits from KBC LLC’s operations and business. Kaya is a skin care clinic chain that provides a variety of skin care services and beauty treatments.