DOHA: Yusuff Ali M A, the Indian businessman and the Managing Director of Abu Dhabi-headquartered EMKE Lulu Group of Companies, has signed an agreement yesterday in London to pick up significant stakes in the historical East India Company. As per the deal, Ali has put in $60m immediately and is expected to plough in another $25m in phase 2.
Yusuff Ali has taken 10 percent stake in the parent East India Company and 40 percent stake in the East India Fine Foods Company, the flagship company preparing to open businesses across many new countries.
The event was attended by Sanjiv Mehta, Chairman of East India Company along with Ranjan Mathai, Indian High Commissioner to the UK, Abdul Rahman Al Muthaiwe, UAE Ambassador to the UK, Zooben Bhiwandiwala, Vice President of Mahindra Group and other dignitaries.
“We will support East India Company to develop into a truly global luxury brand and will deliver great results in the coming days. I am sure our alliance will help the company to expand its business in new regions and markets,” said Ali.
“We have great plans for the future and will try our best to bring back the past glory of East India Company in this new era,” he said.
The Peninsula
