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.

-Ends-

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 

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2020

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.