Tue 04-01-2022 11:22 AM
ABU DHABI, 4th January, 2022 (WAM) -- Alpha Dhabi Holding (ADH) has announced the acquisition of 25.24% shareholding in Al Qudra Holding, as part of its AED8 billion strategic investment plan across various key-sectors in the UAE.
Al Qudra Holding is an Abu Dhabi-based private joint stock company which has grown significantly by focusing on sustainable development in the region and creating value by investing in fundamental growth sectors.
Hamad Salem Mohamed Al Ameri, Managing Director and CEO of Alpha Dhabi Holding, said, "We are constantly reviewing our portfolio in line with the Board’s strategic directives and looking at ways in which we can optimize it. Al Qudra’s business strategy is a perfect fit for ADH, and this acquisition will add considerable shareholder value as we continue investing in carefully selected industries with sustainable growth potential, as the company is active in unique investment opportunities and has facilitated the development of various projects that meet the local and regional market needs."
Alpha Dhabi Holding has declared an intent to consolidate its position as a considerable contributor to the economy of the UAE in full alignment with the nation’s ‘Projects of the 50’ series of initiatives and will maintain its status as the ideal destination for talent and investors and has allocated the budget of AED8 billion for investments in promising sectors inside and outside the UAE.
"ADH has built an AED8 billion investment fund to boost its portfolio by developing, acquiring and investing in companies that reflect our own commitment to both customers and shareholders. Investments like these offer huge potential for adding to our progress and growth in the construction, health care, hospitality, industry, chemicals and investment fields," Al Ameri added.
Last month, Al Qudra Holding completed the acquisition of Tamouh Investments from International Holding Company with consideration of mandatory convertible bonds worth AED2.244 billion, which will be converted into issued share capital of AI Qudra.