Monday 21 March 2011

Dubai firm sells stake in manufacturer to Tyco - Maktoob News

An investment firm owned by Dubai's ruler says it has agreed to sell its stake in steel product manufacturer KEF Holdings to Tyco International for $178 million.

Dubai International Capital said Monday it paid $126 million for the 45 percent stake when it acquired it in September 2008.

KEF makes valves and steel castings for the oil and gas sector and other industries.

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