Sunday 16 September 2018

Major shareholder Tabarak says it's committed to Dubai's Drake & Scull | Reuters

Major shareholder Tabarak says it's committed to Dubai's Drake & Scull | Reuters:

United Arab Emirates private equity firm Tabarak Investment said it is committed to restoring Drake & Scull to financial health, despite a plunge in the Dubai construction company’s shares. 


“Our business approach is to acquire low-performing companies and get them in shape. That’s what Tabarak is determined to do with Drake & Scull,” public relations manager Nader Muqbel said in an email to Reuters at the weekend.

“As the majority shareholder of DSI, we have committed over a billion dirhams ($272 million) of projects to Drake & Scull which will be awarded to the company,” he added.

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