Dubai Investments subsidiary Masharie announced that it would be selling the equity stake it holds in Anchor Allied Factory to Alkhabeer Capital. No financial details were disclosed about the deal. The Asset Management Private Equity unit of Alkhabeer Capital acquired the strategic stake. The cross-border M&A would also increase the reach of Anchor Allied's operations in Saudi Arabia.
Anchor Allied is a Middle East manufacturer and supplier of silicon sealants, adhesive tapes and spray paints. Its distribution networks sell its products to more than 43 countries around the world.
Masharie General Manager Khalid Al Jarwan said they are proud to have contributed to the success of Anchor Allied Factory owned by the Nalwala family.
Meanwhile, Alkhabeer Capital Chief Executive Officer and Executive Director Ammar Shata said their investment in Anchor Allied was in line with their business strategy. "The Nalwala family has built a great business in the past decades. I am confident of the attractive future awaiting Anchor Allied in the coming years and look forward to a fruitful partnership with the Nalwala family to achieve the company's anticipated growth potential," Shata added.
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