UAE's Gulf Capital Invests USD25m In Egypt's Amak Petroleum
(MENAFN) Gulf Capital, the UAE-based private equity firm, announced that it has invested USD25 million in Amak Group, the Egyptian firm, through its regional fund Gulf Credit Partners, Gulf Business reported.
Amak Group is a provider of petroleum services for the onshore and offshore sectors in Egypt along with drilling and work over services to oil companies and the investment by Gulf Capital is expected to fund Amak's growth plans.
"Gulf Credit Partners' investment will help Amak continue its strong growth at an exciting time for Egypt's revitalised oil and gas sector. Amak's strong position in the Egyptian oil and gas service sector, as well as its ambitious growth strategy and experienced management team, are strongly aligned with our Fund's investment strategy," CEO of Gulf Capital said.
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