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Middle East: Arabtec dismisses major construction merger reports

By  |  August 22, 2013

Just one day after media reported Dubai-based construction firm Arabtec is mulling plans to merge with two of the largest contracting firms from Kuwait and Saudi the company released a statement denying any such plans. In a press release the company said “there are no discussions to merge with either of the two companies and there are no current plans to do so.” Reports said Arabtec head Hasan Abdullah Ismaik told local news reporters that the company was looking into a partnership with two major companies, though did not name which ones. Reports said anonymous sources named Kuwait-based Combined Group Contracting Co. and Saudi Arabia-based Saudi Oger as the two companies allegedly planned for the deal.

Full Content: Gulf Business

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