DUBAI, June 11 (Reuters) - A former chief executive of Dubai’s Drake & Scull International, Khaldoun Tabari, has sold his stake in the Dubai builder to strategic investor Tabarak Investment, Zawya reported on Sunday, citing a source.
Tabarak’s stake stands at about 18 to 20 percent after the sale, making it the largest shareholder in the company, the source told Zawya, a Thomson Reuters service. The sale is believed to have taken place on Thursday.
DSI’s chief executive Wael Allan confirmed to Zawya that a sale transaction had taken place but did not elaborate. A DSI spokesman could not immediately be reached for comment. (Reporting by Hadeel Al Sayegh; Editing by Andrew Torchia)