Al-Futtaim Group, one of the Middle East's largest conglomerates, expects to sign acquisitions worth more than US$500 million (Dh1.83 billion) in coming weeks as it expands in Saudi Arabia and elsewhere in the Middle East.
Marwan Shehadeh, the group's director of corporate development, said the acquisitions would "complement" the group's existing core businesses and raise its profile in Saudi Arabia.
"It is a priority for us to grow our Saudi auto business, and we are in the process of making a couple of acquisitions in the auto sector there," Mr Shehadeh said. "Our aim and strategy is to become much more substantial in Saudi."
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