UAE’s Gargash Group Completes Acquisition of 50.1% Stake in Trakker Middle East

TPL Trakker Limited (PSX: TPLT) has completed the transaction for the transfer of 50.1 percent equity in Trakker Middle East LLC to Gargash Group. “Further to our announcement dated September 27, 2024, regarding the commencement of the transfer of ownership process for the acquisition of a 50.1 percent equity stake in Trakker Middle East LLC by the Gargash Group, we are pleased to inform you that the transaction has now been successfully completed,” it said in a stock filing on Monday. “We are confident that this strategic partnership will accelerate our growth trajectory, enhance operational synergies, and strengthen our market presence, positioning us for long-term success,” it added. Trakker Middle East LLC is a subsidiary of TPL Corp Limited and TPL Holdings (Private) Limited is the ultimate parent company. The principal activities of the Company include the installation and sale of tracking devices, vehicle tracking & fleet management services.