8.4 C
Friday, May 14, 2021

Abu Dhabi’s IHC acquires 45% stake in construction giant Alpha Dhabi Holding

Must read

Tue, 2021-04-13 08:35

DUBAI: The International Holding Company (IHC), one of Abu Dhabi’s largest conglomerates, has completed a 45 percent stake purchase in construction giant Alpha Dhabi Holding (ADH).
The acquisition is part of the Abu Dhabi-listed company’s plan to diversify its investment portfolio, it said in a statement.
“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,” Syed Basar Shueb, chief of IHC, said.
IHC has made a number of high profile investments which include a stake in SpaceX, the space exploration venture of Elon Musk.
The group employs over 22,000 people, and is involved in the development of wide range projects, including mix-used and high-rise property, mass housing and infrastructure.

Main category: 

Abu Dhabi Mubadala invested record amount in 2020, eyes aluminum IPOWizz Air Abu Dhabi offers flights under $55 to Belgrade, Luxor and Sohag

Source link

- Advertisement -

More articles


Please enter your comment!
Please enter your name here

- Advertisement -

Latest article

Pfizer got no response to offers to supply COVID-19 vaccine to Brazil last year

Pfizer Inc repeatedly offered to sell its COVID-19 vaccine to Brazil’s Health Ministry between August and November last year, but got no answer...

Airbnb reports 1Q loss of nearly $1.2 billion, revenue rises

Airbnb reported Thursday that its first-quarter loss more than tripled, to $1.17 billion, as travel remained depressed by the pandemic, but revenue topped...