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FINANCIAL NEWS
Abu Dhabi-backed fund acquires USD140m US yacht repair facility
05 Jul 2015
(MENAFN) Carlyle Group, a US private equity firm backed by Abu Dhabi’s Mubadala Development, has announced purchasing USD140 million yacht repair facility in the US, Arabian Business reported.
The facility is named Lauderdale Marine Center and it will go through some minor redevelopment and expansion operations, according to a corporate statement issued by the US company.
The value of the deal was not officially revealed but is rumored to be around USD140 million, a massive increase from the previous sale in 1997 when it was valued at USD3.8 million.
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