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2 months ago
Former CEO of Dubai's DSI sells stake to Tabarak Investment -Zawya
June 11, 2017 / 12:49 PM / 2 months ago

Former CEO of Dubai's DSI sells stake to Tabarak Investment -Zawya

DUBAI, June 11 (Reuters) - 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)

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