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FINANCIAL NEWS
Japanese firms to buy shares in UAE’s Metito
08 Jul 2014
(MENAFN) Metito Holdings, Ltd. (Metito), provider of water management solutions in emerging markets, has signed a partnership agreement with Japanese companies Mitsubishi Corporation (MC), Mitsubishi Heavy Industries, Ltd. (MHI) and a major Japanese bank, according to Gulf News.
Under the agreement, Metito will sell 38.4 percent of its shares to MC and MHI, predominantly from its existing shareholder Gulf Capital for an undisclosed sum.
Mutaz Ghandour, CEO, Metito, said: “Metito is already well poised to tap into projects of various scales, and this partnership will expedite the company’s growth through creating new opportunities and allowing us to become more competitive, globally.”
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