- DUBAI: An investment firm in Dubai said it had agreed to sell its stake in steel product manufacturer KEF Holdings to Tyco International for $178 million.
Dubai International Capital said it paid $126 million for the 45 percent stake when it acquired it in September 2008.
KEF makes valves and steel castings for the oil and gas sector and other industries.
DIC is part of the Dubai Holding conglomerate.
Like other Dubai state-linked companies, it has been working to re-negotiate and pay down billions of dollars in debt.