UAE's Al Futtaim eyes $1.3 billion for Egypt, Qatar plans

Reuters, Monday 21 Nov 2011

Conglomerate plans expansion but says will close one regional acquisition by the end of the year

Al Futtaim Group, a UAE-based conglomerate, is planning to raise around US$1.3 billion to finance its expansion in Qatar and Egypt, an executive at the company said.

The company was close to completing a $1 billion facility and a separate LE2 billion loan, John Wartig, group director of finance at Al Futtaim Group, said at a conference in Dubai.

Al Futtaim Group also aims to close one regional acquisition by the end of the year, he said.

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