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FINANCIAL NEWS
UAE Emke Group acquires stake in EIC
09 Oct 2014
(MENAFN) Emke Group announced it has acquired an important stake in London-based East India Company, with a deal worth around USD85 million, of which USD60 million will be paid immediately while the other USD25 million will be paid later on, Gulf Daily news reported.
Under the signed deal, Emke group is set to acquire 10 percent stake in the parent East India Company and 40 percent stake in the East India Fine Foods Company.
“We will support East India Company to develop into a truly global luxury brand and will deliver great results in the coming days. I am sure our alliance will help the company to expand its business in new regions and markets,” The Head of Emke Group said.
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