Dubai's Habtoor Group to sell stake in Leighton JV
The family-owned conglomerate hopes to focus on its fully-owned core businesses, such as hotels and real estate, after selling its stake in Habtoor Leighton Group
Dubai's Al Habtoor Group intends to sell its stake in the Habtoor Leighton Group joint venture, it has been revealed.
The family-owned conglomerate will focus on its core businesses following the sale, chairman Khalaf al-Habtoor said, according to Reuters.
Al-Habtoor reportedly told al-Arabiya that several international and regional companies are interested in buying the stake.
The joint venture's co-owner is Australian construction firm, CIMIC Group.
Habtoor Group will focus on 100% owned assets, such as hotels, real estate, and schools, al-Habtoor added according to the report.