Dubai’s Arabtec Said in Talks With Adviser on Takeovers - Bloomberg:
"Arabtec Holding Co. (ARTC), the largest publicly traded construction company in the United Arab Emirates, is seeking advice from PwC to identify potential acquisition targets, according to two people with knowledge of the matter.
PwC hasn’t yet been formally mandated by Arabtec, the people said, asking not to be identified as the information is private. Arabtec also approached banks to discuss potential financing for a takeover, a third person said.
Arabtec’s ambition to become one of the world’s top construction companies was thrown into doubt after Chief Executive Officer Hasan Ismaik resigned in June with other managers spearheading the plans. Ismaik had sought to expand into areas including oil and gas, infrastructure and power, and said the company also planned an acquisition in Europe."
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