Arabtec in talks to acquire Kharafi National

February 25, 2014 2:13 am

Dubai’s largest listed construction firm, Arabtec Holding is in the advanced stages of negotiations to acquire Kharafi National, a subsidiary of Kuwait’s Kharafi Group, Reuters has reported, citing two sources aware of the discussions. The deal, if completed, would be worth about Dhs2bn ($545m), one source said. A formal agreement is expected in two to three months, the sources said.