IHC acquires 45% stake in Alpha Dhabi HoldingAbu Dhabi, UAE; 12 April 2021:
International Holding Company PJSC (ADX: IHC), one of Abu Dhabi’s leading conglomerates, has completed the purchase of a 45% stake in Alpha Dhabi Holding (formerly Trojan Holding). The transaction follows the IHC board meeting disclosure on the 4 March 2021.
Alpha Dhabi Holding was established in 2008 with a focus in the real estate and construction sector. Recently Alpha Dhabi’s Holding has embarked on building a diversified portfolio that manages, deploys, and organises a variety of entities within the Construction, Hospitality, Industrial and Capital verticals. This includes a stake in leading UAE real estate company Aldar Properties, which was acquired in late March through its subsidiary Sublime Commercial Investment from Mubadala Investment Company.
Syed Basar Shueb, CEO and Managing Director of IHC, said: The acquisition of a substantial stake in Alpha Dhabi Holding will add a significant scale to IHC, the move will increase and diversify our investment vertical, as we continually seek strategic partnerships with local and international players and further strengthen our leadership position in the marketplace,
Engineer Hamad Al Ameri, Managing Director of Alpha Dhabi Holding, added: “The transaction places us in a unique position to capitalise on IHC’s robust institutional backing, as we pursue further growth. We are building a diversified portfolio in line with the UAE’s ambitions to promote private sector development. We look forward to working closely with IHC in the next phase of our journey.”
Alpha Dhabi, which employs over 22,000 people, is involved in the development of a large range of projects, including mixed-use and high-rise property, mass housing and infrastructure.
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