Abu Dhabi - Mubasher: Eshraq Investments signed a conditional agreement with TIL Partners SPV to acquire the entire share capital of Shine SPV 1 Limited, according to a press release.
Shine owns subsidiaries in offshore support vessels, shipbuilding, ship repair, and crane operations.
The acquisition will expand Eshraq’s maritime and industrial services investments, while boosting its regional and global presence as well as adding value for shareholders.
The transfer of Shine’s shares is subject to the satisfaction of certain conditions, including regulatory approvals and third-party consents.
Earlier in September, Eshraq signed AED 264 million agreements with Blue Lake Properties and Al Ain Properties to sell land plots on Al Reem Island.
