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22/08/2013 08:58 AST
Kuwait's Combined Group Contracting Co on Wednesday denied a local newspaper report that it was involved in merger negotiations with Dubai builder Arabtec Holdings.
Kuwaiti newspaper Al-Qabas said Arabtec, part-owned by Abu Dhabi state investment firm Aabar, was in merger talks with Combined Group and Saudi Arabia's Saudi Oger. It cited unnamed sources.
"We are not related to this issue at all...We did not approach anyone and no one from Arabtec offered anything...There is not even an intention in this regard," an executive at the company said, declining to be named.
Saudi Oger officials were not available for comment.
Arabtec Holdings is considering a merger with the largest contractors in Saudi Arabia and Kuwait to create a pan-Gulf construction firm, the firm's chief executive told CNBC's Arabic news channel without specifying company names.
Reuters
| Ticker | Price | Volume |
|---|---|---|
| EMIRATES | 58.80 | 0 |
| TRAFCO | 0.29 | 0 |
| JAZADCO | 13.40 | 253,503 |
| OMVS | 0.33 | 3,105 |
| KHALEEJI | 0.08 | 140,793 |
| ANAAMHOLDING | 1.25 | 14,471,369 |
| SAUDIKAYAN | 6.74 | 2,338,843 |
14/09/2024
RIYADH: Saudi master developer Emaar The Economic City's SR8.7 billion ($2.32 billion) capital optimization plan is a "strategic response" to its current financial challenges, according to its CEO. <
Saudi Gazette
12/09/2024
Saudi wheat flour producer Arabian Mills for Food Products Co. has set its final initial public offering price at SR66 ($17.59) per share on the Tadawul main market. During the book-building proces
Arab News
04/05/2018
SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.
Saudi Gazette
05/04/2018
Standard & Poor's (S&P) has affirmed QIB's Issuer Credit Rating at A-, Qatar's leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB's rating
Gulf Times
05/04/2018
Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told
The Peninsula
Financial Information Co.
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