Tuesday 19 March 2024
 
»
 
»
Story

Al Mal plays key role in Emaar unit acquisition deal

DUBAI, May 23, 2016

Al Mal Capital, a subsidiary of Dubai Investments, said it played a major role in helping Emaar Industries & Investments (EII) acquire a significant stake in UAE-based construction firm Leaders Fort Contracting (LFC).

Al Mal Capital was a sole buy side adviser to EII, a subsidiary of leading international developer Emaar Properties, in the transaction.

On the successful transaction, Naser Al Nabulsi, the vice chairman and chief executive, said: "Despite market headwinds, this transaction caps a strong year for Al Mal Capital Corporate Advisory’s mergers and acquisitions practice and demonstrates the attractive fundamentals and diversity that UAE’s economy offers to investors."

EII said it will contribute to developing LFC’s business activities and strengthen market share including exploring opportunities for potential partnership on mega-developments in the UAE and expansion to other GCC markets.
 
Established in 2006, LFC is a specialist in concrete repair technologies, industrial and trafficable flooring, waterproofing, protective coatings, and MEP (mechanical, electrical and plumbing) works.

The company has undertaken works for Burj Khalifa, The Dubai Mall, Dubai International Airport, Abu Dhabi International Airport, The Presidential Palace, Mafraq Hospital, Al Ain Stadium, Yas Mall and Julphar pharmaceutical facilities.

EII chief executive Nasser Batha said: "The acquisition of a significant stake in Leaders Fort Contracting is a strategic fit to our focus on investing in leading UAE-based companies that have high growth potential."

Mohammed Bazzari, the chief executive of Leaders Fort Contracting, said: "We are now set to enter a new era of growth, supported by the expert counsel and investment support offered by EII, across all aspects of our operations. The investment will also enable us to create new jobs in our sector."-TradeArabia News Service




Tags: Emaar | acquisition | Al Mal |

More Construction & Real Estate Stories

calendarCalendar of Events

Ads