DUBAI, June 11 A former chief executive of
Dubai's Drake & Scull International, Khaldoun Tabari,
has sold his stake in the Dubai builder to strategic investor
Tabarak Investment, Zawya reported on Sunday, citing a source.
Tabarak's stake stands at about 18 to 20 percent after the
sale, making it the largest shareholder in the company, the
source told Zawya, a Thomson Reuters service. The sale is
believed to have taken place on Thursday.
DSI's chief executive Wael Allan confirmed to Zawya that a
sale transaction had taken place but did not elaborate. A DSI
spokesman could not immediately be reached for comment.
(Reporting by Hadeel Al Sayegh; Editing by Andrew Torchia)