MMI Dubai purchases 50 percent shareholding of Oman group
Dubai’s Maritime and Mercantile International (MMI) marketing company has purchased a 50 percent stake in Oman United Agencies (OUA), a Muscat-based FMCG (Fast Moving Consumer Goods) and retail distribution and travel agency group. The financial terms of the deal were not disclosed.
The move aims to enlarge MMI’s market share across the Gulf markets. “Together MMI and OUA share the vision of becoming the leading provider of products and services to the leisure and retail industries across the region” MMI Chairman Gary Chapman stated.
The companies will merge their operations. “The structures of both OUA and MMI have several marked similarities and so the ability of the two management teams to combine and drive efficiencies through this partnership shall have an immediate positive impact on the business as a whole”, OUA Chairman Abdulla Moosa noted.
Originally established as a trading, shipping and port management company, MMI today specializes in food and beverages supply chain management. MMI is an associate company of the Emirates Group. Established in 1891, the company operates through six distinct businesses: MMI Logistics, MMI Consumer, MMI Beverages, MMI Travel, MMI Corporate Services and MMI Leisure Retail.
OUA has been operating in Oman since 1923 under the Gray Mackenzie Banner, and was formally established as Oman United Agencies LLC in 1973. OUA operates three main divisions: OUA Retail, OUA Travel and OUA Consumer. — (menareport.com)
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