27/11/2014 – Cinco Dias
Al-Alfia Holdings, a company of Qatari royal family, has purchased a 25% stake in Spanish builder Ecisa for €40 million.
Alicante-based Ecisa controlled by the Pelaez family conducted a capital increase in order to catch eyes of international investors.
Once the transaction closed, Ecisa will run new business plan centered on international expansion and a goal set at gaining abroad €300 million by 2018 and therefore tripling its 2013 revenues.
Precisely, by subscribing to the capital hike, the Qatari company will receive a 25% share in Ecisa Compañía General de Construcciones and 51% in Harinsa Qatar, an affiliate of the Spanish builder operating in the country for the last 7 years.
Ecisa’s chairman Manuel Peláez claims both companies complete each other’s strengths. ‘Until now Ecisa specialized in water projects, as well as construction and railway and airport infrastructures. Thanks to the alliance with Al-Alfia we can widen our offer to new sectors like oil and gas’, he said.
The contractor has got a €500 million portfolio of building projects pending implementation, of which 80% corresponds to international ventures. The firm has been growing its portfolio over the past years and presently it has building sites in Spain, Portugal, Ireland, Taiwan, Mozambique, Chile, Qatar, Algeria and Morocco.
In turn, Al-Alfia Holdings successfully operates in the oil and gas industry in the Middle East and Australia, as well as in infrastructure construction in both countries.
Original article: Cinco Días
Translation: AURA REE
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Source: AURA Real Estate Experts