Abu Dhabi-based global investment company announces merger
Abu Dhabi’s IHC (International Holding Company) has announced plans to merge three of its companies into a single investment valued at about AED 120 billion (£24 billion), according to an IHC press release published on October 15th.
The merger will bring together three of its flagship companies, 2PointZero, Multiply Group, and Ghitha Holding, into one of Abu Dhabi’s largest investment companies named 2PointZero Group PJSC (2PointZero).
The new entity will focus on the energy and consumer sectors, to address increasing energy demand, AI innovation, international consumer growth and widening food security demands.
The transaction is anticipated to be finished by the middle of November and will be carried out through a share-swap strategy.
“This merger reflects IHC’s continued commitment to building globally competitive platforms that drive sustainable value for Abu Dhabi and beyond,” said chairman of IHC, Sheikh Tahnoon bin Zayed Al Nahyan.
2PointZero chairman Sheikh Zayed bin Hamdan bin Zayed Al Nahyan said: “2PointZero was founded to invest in and accelerate the sectors that define the future. This transformative merger continues that mission – driving the energy transition, enabling AI, and empowering communities and consumers.”
Multiply Group, one of Abu Dhabi’s biggest investment platforms, operates across five consumer-driven sectors: mobility, media, apparel, packaging, and beauty.
Its portfolio of investments includes a significant stake in Emirates Driving Company. It has also expanded in Europe with the Dh5.6 billion (£1.1 billion) acquisition of a majority stake in Spain’s apparel giant Tendam and a stake in Italy’s ISEM, a packaging manufacturer serving clients, which include Gucci, and L’Oréal.
2PointZero has assets across energy, mining, and financial services sectors. Meanwhile, Ghitha Holding is reportedly central to the UAE’s food security agenda.
Earlier this month, Abu Dhabi-based PureHealth completed the acquisition of its majority stake in Hellenic Healthcare Group (HHG).
The €800 million (£693 million) acquisition provides PureHealth with a 60% shareholding in HHG, Greece and Cyprus’s major private healthcare provider.
IHC, Maghrebi.org
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