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May 25, 2015 2:28 AM ET

Industrial Conglomerates

Company Overview of Al-Futtaim Private Company LLC

Company Overview

Al-Futtaim Private Company LLC, through its subsidiaries, owns and operates commerce, industry, and services businesses. It distributes, through a network of showrooms, passenger and commercial vehicles representing Toyota, Lexus, Hino, Honda, Volvo, Chrysler, Jeep, and Dodge brand names, as well as offers construction equipment, and used car sale, rental, and leasing services. The company distributes Panasonic, Toshiba, Sanyo, and AFTRON products that are offered through a network of resellers, mass merchandisers, channel partners, and retail outlets of branded stand alone stores. It provides solutions to the building and construction industry in the U.A.E. and lower Gulf region. Additional...

P.O. Box 152

Dubai,  

United Arab Emirates

Phone:

9714 2177777

Fax:

9714 2270994

Key Executives for Al-Futtaim Private Company LLC

Chief Executive Officer
Age: 67
Group Director of Finance
Age: 57
Head of Corporate Communications
Group Director of Automotive
Group Director of Electronics Engineering & Technologies
Compensation as of Fiscal Year 2014.

Al-Futtaim Private Company LLC Key Developments

Al-Futtaim to Close Three Singapore Stores

Al-Futtaim announced that it will close two John Little stores and a Marks and Spencer outlet in Singapore in the coming months. The closures were part of a consolidation plan and that none of the employees in the stores would be laid off, and will instead be redeployed to other stores or roles within the conglomerate. It's not just a cost cutting exercise for the company.

Al-Futtaim Group Opens Marks & Spencer Store in Abu Dhabi

Al-Futtaim Group announced that it has opened the large Marks & Spencer store in Abu Dhabi, located in the newly-opened Yas Mall on Yas Island. The new 4,000 square metre store is in line with the retailer's strategy to build a strong presence in the Middle East. It added that the new store will offer customers stylish fashions across women's wear, menswear, kids wear and beauty in Abu Dhabi. The store also features Marks & Spencer's quality Food including freshly baked goods from its in-store bakery and the renowned M&S Cafe.

Al-Futtaim Seeks Remaining Stake In CMC

Al-Futtaim Private Company LLC plans to acquire a 100% stake in CMC Holdings Limited. Al Futtaim's subsidiary Al Futtaim Auto & Machinery already obtained a 91.6% stake. CMC Chief Executive Officer Mark Kass said, “We expect to acquire the remaining shares by end October as per the regulatory requirement and there's an open offer.”

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
January 7, 2015
Al Haditha Group, Thrifty Car Rental Business in Oman
 

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