Dubai: One of the UAE's oldest business groups, Khansaheb Investment, has bought back its shares that were held by Interserve International Ltd.. The latter had held stakes in three businesses - Khansaheb Civil Engineering (contracting), Khansaheb Group (facilities management) and Khansaheb Hussain (oilfield contracting).
With the buy-back, Khansaheb Investment is now the primary owner of all its group companies. “We are pleased to announce the successful acquisition... as we reclaim full ownership of our assets," said Tariq Hussain Khansaheb, Chairman of Khansaheb Investment.
Khansaheb Investment has been busy expanding its portfolio, with Clemenceau Medical Centre equity partnership. It launched Dynamic Advanced Training, an aviation safety training centre located at Mohammed Bin Rashid Aerospace Hub in Dubai South.
“Local manufacturing is a key pillar of our growth strategy at Khansaheb," the Chairman added. "In 2017, Khansaheb Industries acquired the exclusive license to manufacture Spiralite, a ductwork system developed in the UK, in the UAE. We will continue to diversify our interests as we see long-term growth opportunities globally.”