FINANCIAL NEWS

Drake & Scull to buy Saudi firm

30 Sep 2010

(MENAFN) Dubai contractor Drake and Scull International (DSI) has said that it will acquire a Saudi-based mechanical, electrical and plumbing company, adding it plans to buy another firm in the Kingdom this year, Reuters reported.

Further details of the acquisition will be announced within the next 30 days, once the sales and purchase agreement has been signed, said the company in a statement.

DSI said it intends to finalize acquisition of a second company in Saudi Arabia this year. More details of the deal were not provided.

In April, DSI announced the acquisition of Drake & Scull International Qatar LLC (DSQ) an MEP company based in Qatar.

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