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Thu 1 Dec 2016 09:28 AM

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Dubai's Al Habtoor says all shares sold in construction JV firm

Conglomerate's chairman says divestment of shares in Habtoor Leighton completed, to focus on core business

Dubai's Al Habtoor says all shares sold in construction JV firm
Khalaf Ahmad Al Habtoor, chairman of Al Habtoor Group.

Dubai-based Al Habtoor Holding has announced the completion of the divestment of its shares in HLG Contracting, formerly known as Habtoor Leighton, more than a year after it said it planned to sell.

Khalaf Ahmad Al Habtoor, chairman of Al Habtoor Group, said: “I took a strategic decision to depart from Habtoor Leighton and my main focus shall be on Al Habtoor Group’s core businesses such as hospitality, real estate, automotive, education, and publishing.

“I wish HLG Contracting, its shareholders, clients and employees great success”.

The announcement comes three months after the CEO of Habtoor Leighton was released from police custody in Dubai without bail.

José Antonio López-Monís was not charged with any offence and was detained for nine days in Dubai.

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