MUSCAT, Oman, December 20, 2011 /PRNewswire-Asia/ -- Milcon Gulf Group and Al Barij International LLC announced today the formation of a strategic partnership to launch a series of new ventures in the rapidly growing Middle East and Asia Pacific markets. The groups shall leverage their existing expertise in the areas of energy efficiency, surveillance, information technology, aviation, and related services to set up strategic ventures in order to cater to the rapidly growing GCC market on an opportunistic basis. The companies also identified a number of areas where they would jointly cooperate on partnering or acquiring stakes in companies that would suit the demand coming from active markets where demand exists.
"Milcon group has key strategic initiatives for the Mena market and we feel that the timing is good for us to formalize our agreement with Al Barij, a well established and respected business house in the important markets of Oman and GCC. We shall use our relationship to advance our business plans in the Mena region and other synergistic markets," said Shameem Qurashi Chairman of Milcon Gulf Group.
"Al Barij has been dealing with several companies in the all important Asia Pacific Region for quite some time. With Milcon Group we feel we have found a well-suited strategic partner who is involved in a variety of sectors and industries, much like ourselves, and we look forward to developing our many synergies and exploiting gaps in Mena and Asia Pacific markets," said Mukhtar M Hasan - Chairman of Al Barij International.
ABOUT MILCON
The Milcon Gulf Group, through its subsidiaries and partners in the Asia Pacific Region, the Middle East and North America, is recognized as a world class group dedicated to providing international solutions that successfully meet the challenges presented by today's increasingly competitive global business environment.
Milcon Gulf is a privately held multinational conglomerate involved in international projects across a variety of industries and sectors, including aerospace, banking and finance, project structuring, joint venture development, shipping and trading, energy, petroleum, information technology and telecommunications. Active throughout North America, Asia and the Middle East, Milcon has successfully established significant projects in Vietnam, Malaysia, and GCC. It is recognized and credited with the opening up of the Vietnamese economy by establishing the Saigon Floating Hotel during the embargo period.
Milcon's Asia Regional Office is based in the Philippines fully accredited by the SEC as a Regional Headquarters of a major multinational company.
ABOUT AL BARIJ
Al Barij International LLC (ABI) is a limited liability company, based in Muscat, Oman and specializing in corporate finance, private equity and project development. Al Barij provides financial advisory services and access to capital resources to assist clients to buy, sell and finance businesses. As a boutique investment advisory firm serving middle market business Al Barij deals with private corporate clients as well as public companies. Al Barij work alongside management teams, shareholders, private equity investors, privately owned businesses and middle market businesses on all aspects of corporate finance transactions, from mergers and acquisitions (M&A) and company sales to management buy-outs (MBOs) and fundraising transactions.
As one of the leading private equity firms in Oman, Al Barij specializes in buy-outs of businesses that are under-performing or in need of a change in direction. They invest not only their own funds in these businesses but also, if required, bring with them strategic co-investors who have a long track record of successful investing with Al Barij. Al Barij creates value for those businesses and the co-investors by delivering improved strategy, operations and management.
Al Barij is heavily involved in project development and their current portfolio includes companies in diverse industries, acquired in a range of corporate divestitures, and transactions with private sellers. Al Barij operates each portfolio company independently with the goal of creating long-term, sustainable value.
For further information, please contact:
Media Inquiries: asolis@milcongroup.com
Investor Inquiries: jcapili@milcongroup.com