Defensible valuation of shares and equity interests in UAE and GCC private companies, shareholder disputes, buy-sell agreements, UAE Corporate Tax compliance, M&A, DIFC/ADGM filings, and IFRS reporting. CFA-led. Fixed fee from AED 10,000.
Last updated: September 2026 · Corvian Advisory, Dubai, UAE
Share valuation for a UAE private company comes up far more often than most business owners expect. Here are the situations we deal with most frequently.
When shareholders disagree on value in a buyout or deadlock, an independent CFA-led valuation gives both parties a defensible reference, and provides expert evidence if the matter proceeds to DIFC or ADGM Courts.
Shareholder agreements often require an independent valuation to determine the price at which departing shareholders sell their stake. We price minority and majority interests using IVS-compliant methodology.
Share transfers between related parties must be at arm's length under UAE CT transfer pricing rules. An independent share valuation establishes the arm's length price and supports FTA compliance.
DIFC and ADGM entities require independent share valuations for capital restructuring, employee share plans, and regulatory submissions. Reports prepared to DIFC/ADGM standards.
Establishing a fair share price before M&A negotiations, whether buyer or seller. An independent valuation grounds negotiations and reduces the risk of overpaying or underselling.
IFRS 3, IAS 39, IFRS 9, and IFRS 2 require the fair value of equity interests to be measured independently. We prepare IFRS-compliant share valuations accepted by Big 4 auditors.
The right methodology depends on the business type, purpose, and whether we are valuing a controlling or minority interest.
Projecting future free cash flows and discounting at a risk-adjusted WACC. The primary method for businesses with predictable, recurring cash flows.
Using EV/EBITDA, P/E, and revenue multiples from comparable listed companies and recent private M&A transactions, calibrated to UAE and GCC conditions.
Summing the fair value of all assets and subtracting liabilities. Used for holding companies, investment vehicles, and real estate-heavy businesses.
When valuing shares below 50%, two discounts are commonly applied to arrive at the actual market value of the minority holding.
A minority shareholder cannot control dividends, management decisions, or sale of the business. This reduces per-share value relative to controlling interest. Typical DLOC ranges from 15% to 35% in UAE private company contexts.
Private company shares cannot be sold on a public market. DLOM is estimated using restricted stock studies, pre-IPO studies, and options-based models. Typical ranges are 15% to 30%.
| Scenario | Standard of Value | Discounts Applied | Report Accepted By |
|---|---|---|---|
| Partner or shareholder buyout | Fair market value, or as defined in the shareholders' agreement | DLOC/DLOM per the agreement; many SHAs specify pro-rata (no discounts) | Both parties, counsel, UAE or DIFC/ADGM courts if disputed |
| Shareholder dispute / litigation | As directed by the court or tribunal | Case-specific; oppression remedies often exclude minority discounts | Courts, arbitrators, expert witness standards |
| Transfer to a holding company | Arm's length fair value (UAE CT transfer pricing) | Applied where a genuine minority stake is transferred | FTA, auditors, banks |
| New investor or employee equity | Fair value (IFRS 2 for employee awards) | DLOM typically applied to non-transferable employee shares | Boards, auditors, incoming investors |
| Estate and succession planning | Fair market value at the planning date | DLOC/DLOM per interest transferred to each heir or trust | Family counsel, DIFC wills structures, foundations |
If a shareholders' agreement defines the valuation mechanism, that definition governs. We regularly act as the independent valuer named under SHA buy-sell provisions, and flag upfront where the agreed mechanism produces a value materially different from open-market value.
Fixed-fee, IVS-compliant share and equity valuations for disputes, M&A, UAE CT, and DIFC/ADGM filings. CFA-led. Delivered in 10–20 working days.