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UAE entities buy stakes in Sudan firm

posted on 29/05/2002: 683 views

Several UAE entities have bought sizeable stakes in The Sudanese Free Zones and Markets Co, the Sharjah Chamber of Commerce and Industry officials said after a meeting top Sudanese officials. Talks have also been initiated to list the company on Dubai and Abu Dhabi bourses, they said. "The company, set up with a capital of Dh367 million (US$100 million), has also opened an office in the UAE to promote the shares," they said. "It has some 40 sizeable investors, mainly corporates and some individuals."

Among the investors are four UAE firms, including the Dubai Islamic Bank, seven Saudi firms, and three Qatari entities. The officials said the company was being privatised, with an office set up in the UAE to promote the effort. (The Gulf News)


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