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FINANCIAL NEWS
Gulf Capital acquires 82.7% stake in SES
23 Jan 2012
(MENAFN) Gulf Capital’s CEO, Karim El-Solh, said that in order to take advantage from the increasing need for power across the region, the private equity firm bought an 82.7 percent stake in Sakr Energy Solutions FZCO (SES), reported Arab News.
El-Solh added that the investment follows the company’s strategy of investing in defensive and fast growing sectors that gain from the regional population growth, governmental infrastructure expenditure and higher gross domestic product (GDP) per capita.
He also said that the power sector in the MENA region, South Asia and Sub-Saharan Africa, represents a resilient and rapidly growing sector.
It is worth noting that SES is a provider of temporary power generation, moreover, it helps regional utilities in the GCC to meet their peak power needs during the summer, and to act as a reliable power supplier to countries, remote areas and construction developments with base load requirements.
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