Home UAE Abu Dhabi Abu Dhabi’s ADQ to buy Jordanian firm from founders, Carlyle Last week, the company acquired 30 per cent of shares in National Petroleum Construction Co. it didn’t already own by Bloomberg May 6, 2020 Abu Dhabi’s ADQ is close to buying a Jordanian frozen food processor from its founders and the Carlyle Group, according to people with knowledge of the matter. The company, formerly known as Abu Dhabi Development Holding Co., is set acquire most of Al-Nabil Food Industries Co. from the Al-Nabil family and Carlyle, the people said, asking not to be identified as the information is private. Moelis & Co. is advising Al-Nabil and Carlyle on the sale, they said. Al-Nabil, which produces frozen and chilled food products such as chicken and pastries, was said to be valued at about $300m, Bloomberg reported in June, people with knowledge of the matter said at the time. Representatives for ADQ, Al-Nabil, Carlyle and Moelis all declined to comment. Buying Spree Set up in 2018 as a holding company for some of the United Arab Emirates’ biggest assets including Abu Dhabi Securities Exchange, Abu Dhabi Airports Co. and a number of hotel and tourism facilities, ADQ has been on a buying spree. The company, chaired by Sheikh Tahnoon Bin Zayed Al Nahyan, last week said it acquired the 30 per cent of shares in National Petroleum Construction Co. it didn’t already own. Washington-based Carlyle in 2013 bought a minority stake in Al-Nabil, which was founded in 1945, through its Carlyle MENA Partners, a fund focused on the Middle East, North Africa and Turkey. In the Middle East, Carlyle still owns stakes in Saudi Arabia’s Alamar Foods and Turkey’s Penti, according to its website. Tags Abu Dhabi ADQ Al-Nabil Food Industries Carlyle Jordan Sheikh Tahnoon bin Zayed Al Nahyan 0 Comments You might also like Abu Dhabi unveils expanded Golden Vendor list, covers 145 industries UAE’s Abu Dhabi sets out measures to help businesses get away from oil Eid Al Etihad 53: Where to watch National Day fireworks in the UAE UAE real estate market poised for strong growth in Q4: JLL