Abu Dhabi's ADQ, IHC propose wrapping real estate, events stakes into Q Holding
02/08/2023 08:07
DUBAI, Aug 2 (Reuters) - Abu Dhabi sovereign wealth fund
ADQ and a unit of local conglomerate IHC IHC.AD have submitted
an offer to wrap their shareholdings in Modon Properties into
IHC's Q Holding QHOLDING.AD .
ADQ will also add its shareholding in Abu Dhabi National
Exhibitions Company.
The proposed transaction would create one of the largest
real estate, hospitality, events, and catering platforms in the
region, ADQ and IHC said in a statement on Wednesday.
The combined group would have an implied market
capitalisation of approximately 44 billion dirhams ($11.98
billion), they said.
($1 = 3.6730 UAE dirham)
(Reporting by Hadeel Al Sayegh)
((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))