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Dubai – Khansaheb Investment, the UAE’s foremost family business conglomerate and the owner of the longest standing contractor in the United Arab Emirates, has bought back its shares from Interserve International Limited.
Interserve International Limited previously owned shares in three Khansaheb companies – Khansaheb Civil Engineering (Contracting), Khansaheb Group (facilities management) and Khansaheb Hussain (oilfield contracting).
With the buy-back, Khansaheb Investment is now the primary owner of all its group companies.
Speaking about the deal, Tariq Hussain Khansaheb, Chairman of Khansaheb Investment said: “We are pleased to announce the successful acquisition of Interserve’s shares in three of our companies, as we reclaim full ownership of our assets. We are confident Khansaheb Civil Engineering and Khansaheb Group will continue to deliver an excellent service to our customers, maintaining them as a Contractor of choice in their industries. We look forward to continuing to develop a world-class portfolio of companies that add tangible value to the UAE economy. This will help strengthen the resilience of the UAE and contribute to our nation’s economic recovery post Covid-19.”
“Local manufacturing is a key pillar of our growth strategy at Khansaheb. In 2017, Khansaheb Industries acquired the exclusive license to manufacture Spiralite, an innovative ductwork system developed in the UK, in the UAE. We will continue to diversify our interests as we see long-term growth opportunities globally.”
Khansaheb Investment expanded its portfolio with Clemenceau Medical Centre equity partnership. In addition, Khansaheb Investment announced the launch of Dynamic Advanced Training, the Middle East, North Africa and South Asia’s (MENASA’s) first independent aviation safety training centre located at Mohammed Bin Rashid Aerospace Hub in Dubai South, adjacent to Al Maktoum International Airport.
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About Khansaheb Investment:
Khansaheb Investment is a company of great strength that has had the privilege to play a key role in the development of the UAE and some of its most important projects over the past 85 years. As the construction market across the country has developed and grown, Khansaheb Investment has grown along with it, shaping and refining services to meet the demands of the ever-changing market.
Khansaheb Investment provides a unique combination of local knowledge and management expertise. It has investments in Aviation Training, Real Estate, Healthcare, Manufacturing, and F&B, in addition to its construction and facilities management business.
Media contacts
FTI Consulting
T: +971 (0)4 4372110
Khansaheb@fticonsulting.com
© Press Release 2020
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