Dubai Group pumps $22mn into Egypt glass maker

Dubai Group has acquired a 49% stake in an Egyptian glass manufacturer in partnership with Cairo-based private equity firm Citadel Capital, the company said on Sunday.

Dubai Group, part of state-owned conglomerate Dubai Holding, said it has invested 730 million dirhams ($199 million) in Sphinx Glass Company through its subsidiary Dubai Capital Group.

"Our investment in the Sphinx Glass plant reflects our strong belief in Egypt's competitive advantage in the glass industry, not just within the region but also globally," Mustafa Farid Geninah, CEO of Dubai Capital Group, said in a statement.

Click on the link bellow to read the entire article.

600450 Dubai Group pumps $22mn into Egypt glass maker glassonweb.com
Date: 21 May 2008
Source: Arabianbusiness

See more news about:

See more from these topics:

Others also read

Construction of AED 550mn MAG 318 due to complete in Q4 2019.
Strohmeier will drive Building Technologies business for digitalized infrastructure in the Middle East.
More than 180 countries will participate at event which is expected to receive 25mn visitors.
dmg events Middle East, Asia & Africa, the leading international exhibition and publishing company, has announced that the 2018 edition of the Windows, Doors & Facades (WDF) event will take place from 23 – 25 September at the Dubai World Trade Centre.
The event will be co-located with the all new HVACR Expo, the Urban Design & Landscaping Expo, and The Big 5 Solar.
The one-day conference focused on different aspects of the architectural glass sector, and included presentations by experts from leading international glass companies and related industries.

Add new comment