{"id":86752,"date":"2023-11-21T00:00:00","date_gmt":"2023-11-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/gic-acquires-minority-stake-in-pipecare-group\/"},"modified":"2023-11-21T00:00:00","modified_gmt":"2023-11-21T00:00:00","slug":"gic-acquires-minority-stake-in-pipecare-group","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2023\/11\/21\/gic-acquires-minority-stake-in-pipecare-group\/","title":{"rendered":"GIC acquires minority stake in Pipecare Group"},"content":{"rendered":"

Kuwait's Gulf Investment Corporation<\/a><\/strong> (GIC) has acquired a \u201csignificant minority stake\u201d <\/strong>in UAE-based <\/strong>Pipecare Group Holding<\/a><\/strong>, a global provider of pipeline inspection services, according to a company statement<\/a>. The transaction closed on 15 November, the statement says, but the size of the stake acquired and the financial value of the investment were not disclosed.<\/p>\n

Where is the money going?<\/strong> Pipecare will use the fresh financing to facilitate its international expansion, with a focus on expanding its premium offerings, namely its \u201chigh-end in-line inspection technologies\u201d 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

About Pipecare: <\/strong>Established in 1998, Pipecare Group is a key global provider of in-line inspection services for pipeline operators across 85 countries. The company offers adaptive engineering services as well as AI solutions. <\/p>\n

About 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 internationally. <\/p>\n","protected":false},"excerpt":{"rendered":"

Pipecare Group is a global provider of pipeline inspection services in the UAE<\/p>\n","protected":false},"author":1,"featured_media":86753,"comment_status":"","ping_status":"open","sticky":false,"template":"","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":[2392],"tags":[7,153,1344,60,206],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-86752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-enterpriseam-uae","tag-gulf-investment-corporation","tag-ma","tag-ma-watch","tag-pipecare-group-holding","wpautop","entry"],"acf":{"mongo_id":"d82cf868-3d4c-4aba-ba76-775a7027261f","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/12023\/11\/1085.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Gulf Investment Corporation acquires significant minority stake in Pipecare Group","related_issue":[86747],"teaser":"Pipecare Group is a global provider of pipeline inspection services in the UAE","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.9ba629da-2bc8-4187-b80a-2df4057e88e1.mp3"},"yoast_head":"\nGIC acquires minority stake in Pipecare Group - 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