Alpha Dhabi Holding (ADH) has announced the acquisition of a 25.24 percent stake 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, media reports said.
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 the issued share capital of Al Qudra.
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.”
Al Ameri said ADH has built an AED8 billion investment fund to boost its portfolio by developing, acquiring and investing in companies that reflect its 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.
