Arabtec to fully acquire Target Engineering
- United Arab Emirates: Tuesday, March 12 - 2013 at 06:06
Dubai-based construction firm Arabtec is set to acquire the 40% stake in Target Engineering it does not already own to expand its move into the oil and gas construction business, Reuters has reported, citing two sources with knowledge of the deal. Arabtec, which bought a 60% stake of Target in 2007, is expected to announce the deal in coming days, the people said. Target Engineering specialises in oil and gas and marine projects with operations in the UAE, Qatar and Saudi Arabia.
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