# ALEC to acquire 100% of TARGET Engineering Construction Company

ALEC Engineering and Contracting, part of Investment Corporation of Dubai, signed a share purchase agreement to acquire 100% of TARGET Engineering Construction Company, including its 11,000 workforce, marine vessels and fabrication facilities. The combined group would have a joint turnover of nearly US$2 billion.

- Type: Acquisition
- Announced: 2022-12-19
- Where: United Arab Emirates
- Status: announced
- Products: oil and gas fabrication services, marine engineering, industrial construction

## Companies

- [ALEC Engineering and Contracting](https://endata.com/companies/10019.md) (acquirer)
- [TARGET Engineering Construction Company](https://endata.com/companies/10020.md) (target)
- [Investment Corporation of Dubai](https://endata.com/companies/10021.md) (investor)

## Sources

- [meconstructionnews.com](https://meconstructionnews.com/55903/alec-to-acquire-100-of-target-engineering), 2022-12-19: "ALEC has announced that it has signed a share purchase agreement to acquire TARGET Engineering Construction Company."

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