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DIC acquires KEF stake10/09/2008. Source: AltAssets. 
 The Emerging Markets division of Dubai International Capital, the international investment arm of Dubai Holding, has acquired a 45 per cent stake in UAE-based KEF Holding, a provider of steel castings for valves and pumps serving the oil and gas, mining, industrial and chemical industries in the Middle East, Asia, Europe, and the US.
Financial terms of the transaction were not disclosed.
Sameer Al Ansari, executive chairman and CEO of DIC, said, 'Today's acquisition of KEF Holding reinforces DIC's commitment to investing in outstanding Middle East businesses that combine strong growth potential with an experienced management team - KEF's team have deep industry knowledge, excellent relationships within the sector and a clear vision for growth. KEF's founder, Faizal Kottikollon, has in just 11 years built KEF into a significant competitor to European foundries that have been in operation for over 100 years and we fully support his strategy for sustaining an impressive growth trajectory.'
'DIC had to fend off fierce competition from international and regional private equity firms to acquire KEF and we played to our strengths demonstrating both our track record of helping portfolio companies realise their growth potential over the long term, and the benefits of our ownership profile. As part of Dubai Holding, DIC can access resources and relationships that are of great benefit to our portfolio companies,' he continued.
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