SALD Investment to acquire BIC Contracting from CIMIC and Riad Al Sadik.

SALD Investment, a private equity firm in UAE, agreed to acquire BIC Contracting, a building and infrastructure contractor, from CIMIC, an Australian multinational contractor, and Riad Al Sadik, its joint venture partner. CIMIC and Mr. Riad Al Sadik will divest their 45% and 55% stakes in the company. Financial terms were not disclosed.