# Elgi Equipments' UAE subsidiary takes 49% stake in Elgi Gulf Mechanical and Engineering Equipment Trading JV

Elgi Gulf FZE, a wholly owned UAE subsidiary of Elgi Equipments, proposed to invest 147,000 UAE dirhams for a 49% stake in a new UAE joint venture with a local Emirati partner to sell air compressors in the region.

- Type: Acquisition
- Announced: 2019-06-20
- Where: United Arab Emirates
- Value: $40000.00 (147K AED)
- Status: announced
- Products: air compressors
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Elgi Gulf FZE](https://endata.com/companies/5177.md)
- [Elgi Equipments](https://endata.com/companies/1552.md) (investor)

## Sources

- [insights.dsij.in](https://insights.dsij.in/dsijarticledetail/elgi-equipments-uae-subsidiary-enters-jv-for-market-expansion-8011), 2019-06-21: "proposes to subscribe and invest to an extent of 1.47 lakh UAE Dirhams constituting 49 per cent of the total capital"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.