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Mon 20 Dec 2010 10:45 AM

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Oman's Renaissance buys Al Wasita Emirates for $15m

Deal to help accelerate the O&G services company's growth plans for its Abu Dhabi JV

Oman's Renaissance buys Al Wasita Emirates for $15m
BIG DEAL: The deal will Renaissance accelerate the oil and gas services companys growth plans for its Abu Dhabi joint venture (Getty Images)

Oman's Renaissance Services

said it acquired Abu Dhabi-based Al Wasita Emirates for

Services and Catering in a AED56m ($15.25m) deal to expand its contract services operations in the

UAE.

The deal will help accelerate the oil and gas services

company's growth plans for its Abu Dhabi joint venture,

Renaissance Facilities Management Services, the company said in

a statement on Monday.

Renaissance, which already has marine and engineering

businesses in the UAE, launched the joint venture in November to

provide catering, cleaning and facilities management services to

onshore and offshore oil and gas companies.

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