Al Waha buys 49% stake in GMMOS Group
United Arab Emirates: Tuesday, July 22 - 2008 at 07:43
Al Waha Maritime, a subsidiary of Waha Capital, has acquired a 49% stake in GMMOS Group. The acquisition follows an agreement between Waha Capital with private equity firm Abraaj Capital. GMMOS Group is an Abraaj Capital portfolio company and aN industrial group operating in the marine, oil & gas and crane-hire sectors across the Gulf and Caspian markets. Under the agreement, Al Waha Maritime had acquired 40% of the strategic investment from investors exiting the co-investment vehicle, and the remaining nine per cent was acquired from Abraaj Buyout Fund II.
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Jeff Florian, Senior ReporterTuesday, July 22 - 2008 at 07:43 UAE local time (GMT+4)
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