Goldman Sachs Inc (GS.N) bought warrants worth 147 million dirhams ($40 million) in Dubai's Drake & Scull International DSI.DU, less than a week after helping arrange a loan facility for the contracting firm.
Drake, which specializes in mechanical, engineering and plumbing operations, said the "strategic" investment would represent about 8.5 percent of the company's current market capitalization.
The warrants mature in five years and can be exercised by Goldman any time after two years, Drake said in a statement on Monday, without revealing any pricing details.
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