UAE based private equity firm Ithmar Capital has acquired the entire new share issue of Kuwaiti construction firm, the Mushrif Trading and Contracting Company (MTCC). Under the agreement, Ithmar Capital's UAE affiliate, Gulf Consortium 2, has bought 30m shares at a cost of approximately $97m. MTCC will use the funds to buy UAE based construction firms; Ithmar Capital/Gulf Consortium 2 now holds three seats on MTCC's board. [AMEInfo.com]



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Posted: 09|17|07 at 12:35 pm. Filed under: News.