{"id":82250,"date":"2023-11-21T00:00:00","date_gmt":"2023-11-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2023\/11\/21\/gic-grabs-minority-stake-in-pipecare\/"},"modified":"2023-11-21T00:00:00","modified_gmt":"2023-11-21T00:00:00","slug":"gic-grabs-minority-stake-in-pipecare","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2023\/11\/21\/gic-grabs-minority-stake-in-pipecare\/","title":{"rendered":"GIC grabs minority stake in Pipecare"},"content":{"rendered":"

GCC-owned GIC grabs minority stake in Pipecare:<\/strong>Kuwait-based Gulf Investment<\/a>Corporation<\/a> (GIC) said it acquired a \u201csignificant minority stake\u201d in UAE-based Pipecare Group<\/a> Holding, a global provider of pipeline inspection services, according to a company statement<\/a>. The transaction was executed on 15 November, the statement read, without disclosing the size of the stake acquired and the value of the transaction.<\/p>\n

Where the funds are going: <\/strong>Pipecare will use the cash infusion to speed its international expansion with a focus on expanding its premium offerings \u2014 namely its \u201chigh-end in-line inspection technologies\u201d \u2014 in the North American market.<\/p>\n

It\u2019s another Gulf-Goes-Global story: <\/strong>\u201cThis investment highlights the interest of GIC in partnering with a successful GCC company to help it expand its operations outside the region,\u201d Group Head of Principal Investments at GIC Meshary Al-Judaimi said. <\/p>\n

What\u2019s GIC? <\/strong>Established in 1983 by the Gulf Cooperation Council (GCC), GIC is an investment company jointly owned by the six GCC member states. Its primary objective is to boost cooperation and growth through equity commitments, both within the GCC and globally. <\/p>\n

About Pipecare:<\/strong> Pipecare Group, established in 1998, is a key global provider of in-line inspection services for pipeline operators in some 85 countries. <\/p>\n","protected":false},"excerpt":{"rendered":"

The acquisition comes as GIC looks to expand outside the region<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2575],"tags":[10,381,379,14,380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82250","post","type-post","status-publish","format-standard","hentry","category-ma-watch","tag-enterpriseam-ksa","tag-gcc","tag-gulf-investment-corporation","tag-ma-watch","tag-pipecare-group","wpautop","entry"],"acf":{"mongo_id":"6fe121aa-d44d-4246-a196-54eb22f0908c","is_powered_by":false,"story_type":"1","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"GCC-owned GIC acquires significant minority stake in UAE-based Pipecare","related_issue":[82242],"teaser":"The acquisition comes as GIC looks to expand outside the region","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.7a679031-88e2-4a3a-8c8c-fc12752c7dfd.mp3"},"yoast_head":"\nGIC grabs minority stake in Pipecare - 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