Dubai's Arabtec may merge with Kuwait, Saudi firms -report
DUBAI Aug 21 (Reuters) - Dubai-based Arabtec Holdings is in merger talks with Kuwait's Combined Group Contracting Co and Saudi Arabia's Saudi Oger to create a pan-Gulf construction firm, Kuwaiti newspaper Al-Qabas reported on Wednesday.
The newspaper quoted unnamed sources. Spokesmen at the companies could not immediately be reached for comment.
Arabtec, part-owned by Abu Dhabi state fund Aabar Investments, reported last week that it swung to a second-quarter net profit, helped by growth in its key markets and expense reductions. (Reporting by Azza El Arabi; Writing by David French; Editing by Andrew Torchia)
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