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UAE’s Al Futtaim eyes $1.3B for Qatar, Egypt

Al Futtaim Group, a UAE-based conglomerate, is planning to raise around $1.3 billion to finance its expansion in Qatar and Egypt, an executive at the company said.

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November 21, 2011 1:32 by



The company was close to completing a $1 billion facility and a separate 2 billion Egyptian pounds ($334.28 million) loan, John Wartig, group director of finance at Al Futtaim Group, said at a conference in Dubai.

Al Futtaim Group also aims to close one regional acquisition by the end of the year, he said. ($1 = 5.9830 Egyptian pounds) (Reporting by David French; Editing by Reed Stevenson)



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