UAE’s Alpha Dhabi Holding acquires 25% of Al Qudra Holding

UAE’s Alpha Dhabi Holding (ADH) has acquired a 25.24 per cent shareholding in Al Qudra Holding, as part of its Dhs8bn strategic investment plan across key sectors in the UAE.

“We are constantly reviewing our portfolio in line with the board’s strategic directives and looking at ways in which we can optimise 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,” said Hamad Salem Mohamed Al Ameri, managing director and CEO of Alpha Dhabi Holding.

Last month, Al Qudra Holding completed the acquisition of Tamouh Investments from International Holding Company (IHC) with consideration of mandatory convertible bonds worth Dhs2.244bn, which will be converted into issued share capital of AI Qudra.

At the time of the announcement of the IHC deal, the board of directors at Al Qudra also approved a new foreign ownership limit for Al Qadra of 30 per cent of outstanding shares, subject to regulatory approvals. Previously, only UAE nationals were permitted to own shares in the company.

Alpha Dhabi meanwhile earlier this week announced the acquisition of an additional 17 per cent shareholding of Aldar Properties. It will increase Alpha Dhabi Holding’s shares in Aldar Properties to 29.8 per cent, making it one of the largest shareholders.

“ADH has built an Dhs8bn investment fund to boost its portfolio by developing, acquiring and investing in companies. Investments like these offer huge potential for adding to our progress and growth in the construction, health care, hospitality, industry, chemicals and investment fields,” added Al Ameri.