GMMOS Group was acquired by Abraaj Capital and a group of investors in May 2007. In the current deal, Waha will acquire 40% of GMMOS from investors exiting the business, and 9% from Abraaj Capital’s Abraaj Buyout Fund II.
Waha Capital began to pursue a diversified investment strategy in February of this year, when it was split into four divisions: Waha Leasing, Waha Maritime, Waha Financial Services and Waha Land. GMMOS will form the core of the maritime division.
“This acquisition is in line with our strategy to build a significant regional maritime business alongside other businesses from our base in Abu Dhabi,” said Waha Capital CEO, Samer Alhaj.
