DSI plans Saudi acquisition, India expansion
- United Arab Emirates: Monday, February 25 - 2013 at 04:49
Khaldoun Tabari, the chief executive of Drake & Scull International (DSI) has said the Dubai-based construction firm plans an acquisition in Saudi Arabia and expansion in India and North Africa to help diversify revenue, Bloomberg has reported. DSI, which raised $120m in a loan coordinated by Goldman Sachs Group in November, will use proceeds from the loan for a possible $25m buyout in Saudi Arabia, Tabari said. "We are looking at North Africa with Algeria and we are looking at India as the markets for growth" this year, Tabari said. "We are now gathering momentum in Saudi Arabia, we are gathering momentum in Qatar."
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