Colas Group acquires Anglo American stake in UAE, Oman and Qatar
Colas Group, a world leader in the construction and maintenance of transport infrastructure, has acquired the stakes previously held by Anglo American in the capital of six jointly owned or operated companies which have operated under the Tarmac name in the United Arab Emirates, Oman and Qatar.
These companies, which are held with a number of major partners (Al Futtaim, Al Zawawi and Midmac) in each of the respective countries, produce 7.5 million tons of aggregates and 1.6 million tons of asphalt mix per year via three quarries and ten asphalt plants. Global revenue totals roughly 150 million euros, of which Colas’ share amounts to 80 million euros.
Colas was advised by a team led by global law firm Reed Smith. Partner Edward Miller commented: "We were delighted to have the opportunity to again work as part of the Colas team in negotiating and concluding this transaction, which is an important step forward for Colas’ business in the Middle East."