UAE's Alpha Dhabi Holding acquires 25% of Al Qudra Holding | ZAWYA MENA Edition
Abu Dhabi-based conglomerate Alpha Dhabi Holding has acquired 25.24 percent shareholding in Al Qudra Holding PJSC, as part of its 8 billion dirhams ($2.17 billion) strategic investment plan across various sectors in the UAE.
In a statement on Abu Dhabi Stock Exchage, Hamad Salem Mohamed Al-Ameri, Managing Director and CEO of Alpha Dhabi Holding, said: “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 Qudra Holding is an Abu Dhabi-based private joint stock company that invests in real estate projects.
In December, Alpha Dhabi announced plans to invest up to 8 billion dirhams sectors, including real estate, hospitality, healthcare, and petrochemicals. On Monday, the conglomerate increased its stake in Abu Dhabi developer Aldar Properties to 29.8 percent after acquiring an additional 17 percent.
Last month, Al Qudra Holding completed the acquisition of Tamouh Investments LLC from IHC with consideration of mandatory convertible bonds worth 2.244 billion dirhams, which would be converted into issued share capital of Al Qudra.
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