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IMKAN Completes Strategic Acquisition of 51% Stake in Majestic Marine Investments Group

Overview of the Acquisition

IMKAN, a prominent global master developer based in Abu Dhabi and a subsidiary of Abu Dhabi Capital Group (ADCG), has successfully completed the acquisition of a 51% stake in Majestic Marine Investments Group LLC (“Majestic Group”). This strategic move signifies an important step for IMKAN as it aims to bolster its operations in marine engineering and marina construction, particularly in the UAE and Saudi Arabia.

Establishing In-House Marine Construction Capabilities

The acquisition enhances IMKAN’s ability to undertake marine construction projects internally. By integrating Majestic Group’s extensive expertise, IMKAN will now have the necessary resources to support waterfront and coastal development projects effectively. This vertical integration positions IMKAN to cater to the rising demands in these rapidly growing sectors, which are vital for sustainable development in the region.

Strengthening Long-Term Growth Strategy

This transaction aligns with IMKAN’s long-term growth objectives across the United Arab Emirates (UAE) and the broader Gulf Cooperation Council (GCC). Majestic Group, recognized as a leader in marine engineering in the region, contributes a wealth of experience and a proven track record of delivering over 200 projects valued at more than AED 1.0 billion. With a skilled workforce of over 400 professionals, Majestic Group will enhance IMKAN’s operational capabilities, thereby fostering a robust environment for future developments in marine infrastructure.

Statements from Leadership

Engineer Suwaidan Al Dhaheri, CEO of IMKAN Properties

Engineer Suwaidan Al Dhaheri expressed his enthusiasm regarding the acquisition: “This strategic acquisition allows IMKAN to broaden its service offerings significantly while establishing robust in-house marine construction abilities. The technical expertise and proven delivery success of Majestic Group across the UAE and Saudi Arabia will be instrumental in facilitating high-quality waterfront, marina, and coastal projects. Such initiatives will pave the way for IMKAN’s sustained growth in a sector anticipated to thrive in the GCC.”

Marios Economides, CEO of Majestic Marine Investments Group

Marios Economides also shared his excitement regarding the acquisition: “This partnership with IMKAN marks an exciting new chapter in Majestic Group’s journey. With IMKAN’s support and visionary approach, we are strategically positioned to accelerate our growth, actively participating in the realization of iconic development projects across the region.”

Enhancing Operational Footprint and Stakeholder Value

IMKAN’s strategic initiative aims to broaden its operational footprint in marine and coastal projects while enhancing delivery capabilities. The partnership is expected to build long-term value for all stakeholders involved. By diversifying its service offerings and enhancing project delivery efficiencies, IMKAN is setting the foundation for future successes in the regional infrastructure market.

Advisory Support for the Transaction

The acquisition was facilitated by Asend Capital, led by Managing Partner Abed Assy, who served as the exclusive M&A advisor. Deloitte and Dentons were engaged as financial and legal advisors, respectively, ensuring a comprehensive approach to the transaction.

How AI legalese decoder Can Help

Navigating complex legal documents and agreements during acquisitions can be daunting. AI legalese decoder can assist businesses like IMKAN in simplifying intricate legal jargon, making it easier for stakeholders to understand the implications of the contracts involved in the acquisition. By utilizing AI-driven technology to decode legalese, companies can save time, reduce misunderstandings, and ensure that all parties are aligned on critical contractual terms. This tool can enhance transparency and facilitate smoother negotiations, allowing firms to focus on their core operational goals rather than getting bogged down by legal complexities.

Conclusion

Overall, IMKAN’s acquisition of a 51% stake in Majestic Marine Investments Group represents a significant strategic move that will bolster its marine construction capabilities and long-term growth strategy in the region. With the support of adept advisors and tools like AI legalese decoder, IMKAN is well-equipped to navigate the intricate landscape of marine and coastal development.

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