Dubai – Mubasher: Abu Dhabi-based private equity firm Tabarak Investment (Tabarak) on Wednesday announced that it has teamed up with Goldilocks Investment Company to support Gulf Navigation, the UAE’s sole public listed shipping company.
The partnership aims to enhance the core operational competencies of the company, Tabarak, a major shareholder of Gulf Navigation, said in a statement.
Commenting on the partnership, Ahmad Kilani, CEO of Tabarak, said, “Our combined expertise and experience will empower us to steer our focus and resources on achieving sustainable and significant growth in industries and companies that constitute our portfolio such as shipping and logistics and make a significant contribution to the realisation of the ambitious Abu Dhabi Economic Vision 2030.”
Tabarak and Goldilocks Investment target exploring investment opportunities in the UAE’s shipping and logistics sector, the statement said.
“Through our collaboration with Tabarak, we will aim to unlock value for all stakeholders by working constructively with the management and board to accelerate the implementation of these growth initiatives,” Mustafa Kheriba, Goldilocks’ director, said.
It is worth noting that the Abu Dhabi-based Goldilocks Investment has acquired 18.3% stake in Gulf Navigation.
Goldilocks is an investment fund, managed by ADCM Altus Investment Management Limited, with a mandate to invest in listed equities by taking a constructive activist role to unlock value.
By 10:27 am UAE time, Gulf Navigation’s stock rose 1.54% at AED 0.99.
