Renaissance Services has announced that the company has acquired 100% of Al Wasita Emirates for Services & Catering LLC, an industrial services and catering business based in Abu Dhabi, in its latest move to expand its contract services operations in the region.
Renaissance Services, an Omani-based oil and gas services multinational company listed on the Muscat Securities Market (MSM), announced to the MSM that it paid AED 56 million (Rial 5.89 million) for the purchase of Al Wasita Emirates.
Al Wasita Emirates, which operates from Abu Dhabi, Dubai, Ras Al Khaimah and Fujairah provides up to 26,000 meals per day, has been successfully operating various government and private contracts since its launch in 2004, and has achieved significant growth in its recent performance.
Ananda Fernando, Chief Executive Officer of the Contract Services Group of Renaissance Services said, “We are confident that this acquisition will provide significant opportunities to Renaissance’s Contract Services Group in the UAE market.”
Renaissance had announced recently the formation of a joint venture in Abu Dhabi within the umbrella of its Contract Services Group under the name Renaissance Facilities Management Services LLC. The acquisition of Al Wasita will help in accelerating the growth plans of this joint venture.
Hala Srouji | Corporate Communication Manager | Renaissance Services SAOG
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