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IHC's unit acquires 70% stake in WFC Holding

IHC's unit acquires 70% stake in WFC Holding
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ESG
ESG
0.00% 8.00 0.00
IHC
ASMAK
0.07% 152.40 0.10

Abu Dhabi – Mubasher: Emirates Stallions Group (ESG), a subsidiary of International Holdings Company (IHC), has acquired a 70% stake in WFC Holding, a UAE-based technology, data-driven, and outsourcing company.

WFC Holding is specialised in business process outsourcing (BPO) and manpower outsourcing (MPO) and offers end-to-end support services across several sectors through its subsidiaries, including Workforce Connexion, Integrated Business Centre, and Multi-Serve Typing, according to a press release on Wednesday.

The acquisition is part of ESG's strategy to diversify into new areas that complements its mainstream construction and real estate business.

The Chairman of ESG, Matar Suhail Al Yabhouni Al Dhaheri, commented: "This acquisition will allow us to expand, manage and control our client’s manpower operations better and will allow us to expand our business into other relevant areas to meet the growing demand for UAE manpower services."

Al Dhaheri added: "With ESG owing 70% of WFC Holding, we are confident this is going to boost their growth plan and help them reinforce their existing capabilities in permanent hiring, managed business solutions, Cross Border, Contract staffing, and complex workforce management solutions."