United Holdings Acquires 46 Per Cent Stake in BRM Construction

Sun. August 31, 2008; Posted: 07:42 AM

Aug 31, 2008 (Khaleej Times - McClatchy-Tribune News Service via COMTEX) -- MS | Quote | Chart | News | PowerRating -- Aug. 31--DUBAI -- United Holdings, a premium investment firm based in Dubai, on Saturday announced it has acquired 46 per cent stake in BRM, a Dubai-based construction company.

Strategic partners also associated with BRM are Morgan Stanley Principal Investments Europe LLC and Al Nasser Investments LLC. The transaction was managed by Tier One Partners.

BRM is the slipform market leader in the construction sector, boasting a highly experienced management team that has executed more than 200 projects in the UAE, totally valued in excess of Dh25 billion. Currently, it is handling over 30 projects for major clients such as Arabtec Construction LLC, Khansaheb Civil Engineering, NASA Multiplex and Al Futtaim Carillion LLC.

Abbas Kiani, CEO of United Holdings, said: "Our investment in BRM comes as part of our aggressive investment strategy, which focuses on high returns and sound strategic decisions. Taking advantage of the economic boom, we aim to extend our geographic focus from the UAE to potential global markets.

"In addition to our development initiatives in the real estate sector, United Holdings has commenced a series of strategic investments in construction and buildings material companies. Our partnership with BRM signals the first of many ventures that United Holdings has on its agenda."

United Holdings aims to develop a rich and diversified investment portfolio in a wide range of assets across economic sectors such as real estate, financial services, industries, education, healthcare and telecommunication through its alliances with industry majors across diversified sectors and emerging markets.

"United Holdings will actively seek to add value to each and every environment it operates in by diligently choosing investment prospects and growing its arena of operations in tune with market opportunities," Kiani added.

Bruce John Munro, CEO of BRM, said: "As a key shareholder, United Holdings will bring significant value to our operations and raise our overall business profile in the industry. We are confident the synergy with United Holdings will contribute to the growth of BRM, facilitating our enhanced presence in the domestic as well as regional markets."

Aiming to gain a competitive industry advantage, United Holdings continues to consolidate its presence through strategic acquisitions in various industry verticals, positioning itself to leverage the growing market potential in the Middle East and overseas.

United Holdings is a Dubai-based holding company officially launched in November 2007; since its inception, the company has positioned itself as a premium investment firm, initially focusing on domestic growth with further plans to expand regionally and globally.

The company's core business revolves around the Real Estate sector; however, United Holdings aims at diversifying its investment portfolio by capitalising on various assets and investing in other promising sectors such as Financial Services, the Industrial sector, the Education sector, the Healthcare sector and the telecommunications sector.

To see more of the Khaleej Times, or to subscribe to the newspaper, go to http://www.khaleejtimes.com. Copyright (c) 2008, Khaleej Times, Dubai, United Arab Emirates Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.

For full details on Morgan Stanley (MS) click here. Morgan Stanley (MS) has Short Term PowerRatings of 5. Details on Morgan Stanley (MS) Short Term PowerRatings is available at This Link.

More News: Market Updates | Stock Alerts | All Trading News | Stock Index