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FINANCIAL NEWS
Oman’s Renaissance acquires Abu Dhabi’s Al Wasita
20 Dec 2010
(MENAFN) Oman’s Renaissance Services revealed that it signed a $15.25 million agreement to purchase Abu Dhabi-based Al Wasita Emirates for Services and Catering, in an effort to boost its contract services operations in the UAE, Reuters reported.
The Oman-based firm said in a statement that the acquisition will help accelerate its growth plans for its Abu Dhabi joint venture, Renaissance Facilities Management Services.
Renaissance, which launched the joint venture in November to provide catering, cleaning and facilities management services to onshore and offshore oil and gas companies, already, has both marine and engineering businesses in the UAE.
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