Dubai: One of the UAE’s biggest gold refiners, Emirates Gold, has been bought by Bright East Holding 1, which is an ADGM (Abu Dhabi Global Market) licensed entity that operates in the venture capital and private equity space.

Bright East’s takeover of Emirates Gold adds to its reach in the metals and commodities space. The value of the deal has not been disclosed. The DMCC-based Emirates Gold is into refining and minting of coins and bars. Its operations also cover smelting and assaying (which is to do with determining the quality of gold).