GulfBase Live Support
28/05/2015 01:42 AST
Masharie, the private equity arm of Dubai Investments - a leading investment company listed on DFM, has announced divestment of its 51% stake in both International Rubber Company (IRC) and Techno Rubber Company (TRC) for Dhs36.5 million.The stake sale in IRC and TRC generated an internal rate of return (IRR) of 18per cent. Masharie had acquired 51 per cent stake in IRC in 2006 and TRC in 2010.
IRC operates a 10,000 square metre facility at Dubai Investments Park [DIP] and is one of the leading manufacturers of synthetic rubber profiles in Middle East.
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