M'sharie buys 51pc stake in Stromek Emirates Foundation

DUBAI — M'sharie LLC, the private equity arm of Dubai Investments PJSC, has announced that it has added a new company to its portfolio, as part of the company's strategy to diversify its operations. M'sharie has acquired 51 per cent equity share in Stromek Emirates Foundation, a premier piling contracting company in Dubai which is a part of Al Arif Contracting Company.

By A Staff Reporter

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Published: Tue 27 Jun 2006, 11:00 AM

Last updated: Sat 4 Apr 2015, 1:13 PM

An agreement to this effect was recently signed by Abdul Aziz Al Serkal, Managing Director of M'sharie, with Hamad Abdul Karim Al Arif, Chairman of Al Arif Contracting Company, and Ahmed El Adl Derbala, General Manager and Partner, Stromek Emirates.

Abdul Aziz Al Serkal said: "We have been looking to diversify our subsidiary portfolio and have embarked on a massive expansion plan by targeting new geographical markets. Acquiring 51 per cent stake in Stromek is a strategic investment move that will enable us to gain a strong foothold in the field of mechanical foundation works, the market for which is expanding at an astounding rate as a result of the construction boom in the UAE and elsewhere in the region. Stromek also offers great in-house opportunities by way of synergising with other group companies, and will contribute to the overall growth of Dubai Investments."

Hamad Abdul Karim Al Arif, said: "We are pleased to enter into this agreement with M'sharie, who has built a reputation as one of the most successful investment firms in the UAE."



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