DI unit acquires 55pc stake in Metrofile

DUBAI - M'Sharie, a subsidiary of Dubai Investments PJSC, has acquired 55 per cent of the UAE-based Metrofile Active File Management Solutions raising the share capital to Dh7.5 million.

By Salah Eldin Eltayeb

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Published: Tue 20 May 2003, 12:29 PM

Last updated: Wed 1 Apr 2015, 9:18 PM

This was announced by Dubai Investment Chief Executive Officer, Khalid bin Kalban, yesterday.

He said: "As part of its strategy, Dubai Investment has started to diversify its business by acquiring a number of existing and profitable enterprises operating in the country. Projects- has entered into partnership with three enterprises and is negotiating with several companies to acquire some majority stakes in them".

The company has also announced the names of the new Board of Directors, including Khalifa Hassan Al Daboos, Chairman, Ahmed bin Essa Al Serkal Vice Chairman, Shukri Al Mehairi, Director, Nedhal Al Thani, Director, Omar Al Mesmar, Director.

Bin Kalban said: "Over the last two years, Metrofile-UAE experienced exponential growth fuelled by increased market awareness and demand. We expect to have business partnerships with nine companies before the end of the year ".

"We have a superb system of confidentiality where bar-code technology which uniquely identify files and their location without the interference of human being, therefore the files can't be opened or exposed".

" When a file is needed, the system pinpoint its exact position and enables quick retrieval and delivery, and upon return the file is again stored in a random location."

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