| |
Egyptian Buy, Middle Eastern JV for GfK
GfK has acquired a 74% majority stake in Egyptian consumer research company Market Insight; and has formed a joint venture with the Median Group under the name of GfK Custom Research Middle East Holding, in which GfK holds a 51% share.
Market Insight has been active in the region since 1987 and has been GfK's preferred partner for some years. The company operates under the name GfK Egypt, and offers custom research for the telecoms, food, financial, retail and pharma sectors. In 2008, the firm, which has a staff of 40, will record sales of around EUR 1.3m. Dr Mansour El-Ganady will continue to manage GfK Egypt, which will be consolidated on 1 January 2009.
GfK Custom Research Middle East Holding will comprise two new companies: GfK Custom Research Dubai and GfK Custom Research KSA (Kingdom of Saudi Arabia), and the firms will commence trading in the United Arab Emirates and Saudi Arabia in January.
Ranabir Sen and Tilak Makherji will manage the Dubai company as Managing Directors, with Adil Ali M Al-Najaei appointed as MD in Saudi Arabia. GfK says all three have many years of experience in managing research organizations in the Middle East and Asian region.
Web sites: www.gfk.com and www.market-insight.com .
|
