DIC completes sale of KEF stake

DUBAI - Dubai International Capital LLC, or DIC, the private equity arm of Dubai Holding, confirmed the the sale of its 45 per cent stake in KEF Holdings, or KEF, to Tyco International for a substantial return having signed a definitive agreement to do so in March this year.



KEF is a fully integrated valve manufacturer and one of the world’s leading providers of steel castings to the oil and gas, chemical, mining and power industries.DIC sold its 45 per cent stake in KEF for $178m, a substantial return over the $126m it acquired it for in September 2008.

—business@khaleejtimes.com


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