Markaz: PTT Exploration Reigns The Top GCC M&A Transactions For Q1 2021 With The Acquisition Of A Minority Stake In Oman s Central Gas Processing Facility albawaba.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albawaba.com Daily Mail and Mail on Sunday newspapers.
Shares in Dutch marine services provider Boskalis BOSN.AS jumped on Wednesday, a day after the Suez Canal unveiled a project to expand the southern stretch of the waterway. The Suez Canal Authority plans to expand and deepen its southern section, where a container ship became jammed and blocked traffic for six days in March, throwing .
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General Holding Corporation (Senaat), a part of Abu Dhabi’s holding company ADQ, submitted an offer to combine its wholly-owned subsidiary Emirates Steel with Arkan Building Materials Company to create an industrial group with assets of Dh13 billion ($3.54bn).
Under the terms of the proposed deal, Senaat would transfer Emirates Steel to Arkan for a convertible instrument that would automatically convert into approximately 5.1 billion ordinary Arkan shares upon completion of the deal, Senaat said in a statement on Sunday.
The conversion price of the instrument is set at Dh0.798 per share, which values Arkan at about Dh1.4bn. Upon completion, Senaat would own approximately 87.5 per cent of the entire issued share capital of the combined group.
IHC s industrials vertical owns stakes in a number of businesses, including Quantlase Imaging Lab, the company behind the rapid Covid-19 screening system operated on the border between Abu Dhabi and Dubai at Ghantoot. It also owns Tamouh Healthcare, Pure Health and asset management company Eltizam Group.
The capital unit contains its International Securities arm, a securities brokerage acquired from Dubai-listed investment bank Shuaa in 2019.
IHC s acquisition spree over the past 12 months has led to substantial growth in the size of the company s balance sheet and its value. At the end of March, it had total assets of Dh19.67bn, compared to Dh8.9bn at the same period last year.
An opportunity whose time has come: Regional domination in the Dredging Industry
By Capt Ansar Ahmed Khan LISTEN
MAR 17, 2021
Historically, a few very large European companies have dominated the global dredging industry. Now a new challenge to the European domination has emerged from China. A Chinese Dredging Company, namely, China Harbour Engineering Company (CHEC) has been very active in Africa and Asia.
However, it falls into a category of its own, where state support is quite apparent. There are a few other notable regional dredging companies like the National Marine Dredging Company (NMDC) of Abu Dhabi and Penta–Ocean of Japan.