ABU DHABI, UAE: National Central Cooling Company (Tabreed) has finalised a significant strategic partnership with the International Finance Corporation (IFC), under which ownership of Tabreed India, currently a wholly owned subsidiary of Tabreed, being transferred to a new holding company established in Singapore to be jointly owned by Tabreed (75%) and IFC (25%). International Finance…
Category: MENA
Corporate news and announcements from the stock markets of Middle East and North Africa.
Rolls-Royce, Qatar Investment Authority agree to invest in nuclear power business
LONDON, UK: Rolls-Royce Group has reached agreement with Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar, to invest GBP 85 million in Rolls-Royce SMR Limited (Rolls-Royce SMR). Rolls-Royce SMR is building a new technology solution to deliver affordable, low carbon, nuclear power. A single power station will occupy around one…
Alpha Dhabi Holding invests AED1 billion in Ta’ziz
ABU DHABI, UAE: Alpha Dhabi Holding, the Abu Dhabi-based conglomerate, will be investing about AED 1 billion in the Abu Dhabi Chemicals Derivatives Company, known as TA’ZIZ. This step comes as part of Alpha Dhabi Holding’s expansion plans and future strategy announced last week targeting AED 8 billion for investments in real estate, hospitality, healthcare,…
Alpha Dhabi Holding announce AED 8.0bn expansion plans
ABU DHABI, UAE: Alpha Dhabi Holding (ADH), has agreed on the conglomerate’s expansion plans and future strategy, targeting AED 8 billion for investments in real estate, hospitality, healthcare, petrochemicals, and other promising sectors inside and outside the UAE. Eng. Hamad Al Ameri, Managing Director and CEO of Alpha Dhabi Holding, said: “In Q3 2021, the…
Delegation from Abu Dhabi Securities Exchange visits Bahrain Bourse
MANAMA: Bahrain Bourse (BHB) hosted a high-level delegation from Abu Dhabi Securities Exchange (ADX) for two days to agree on practical steps to be taken by both parties in order to implement the action plan for the agreement that has been signed between Bahrain Bourse and ADX in November. Both parties agreed on a mechanism…
Dubai Investments offers to buy NGI at AED3.12/share
DUBAI, UAE: Dubai Investments has made an offer to acquire all or part of shares in National General Insurance (NGI) at the rate of AED3.12/share. The offer has been dispatched to NGI shareholders. Dubai Investments was incorporated in 1995. Since then, it has grown to become a major player in the economy of Dubai and…
IHC approves Al Tamouh Investments and Al Qudra Holdings merger
ABU DHABI, UAE: International Holding Company (IHC) has formally agreed to the merger of its subsidiary Al Tamouh Investments with Al Qudra Holding, a news release said. The transaction will be completed through the transfer of shares in Al Tamouh Investments in return for unsecured mandatory convertible bonds issued by Al Qudra Holding. In parallel,…
GFH AND Wafra partner to acquire portfolio of U.S. logistics assets
MANAMA: GFH Financial Group has partnered with Wafra International Investment Company, a Kuwaiti based asset management company with US$8.5 billion in AUM, to acquire a portfolio of US-based blue chip logistics assets leased to FedEx and General Mills. The portfolio is comprised of eight income-yielding mission critical logistics assets that are being built to suit…
ADNOC Drilling announces $3.8 billion drilling contract award
ABU DHABI, UAE: ADNOC Drilling Company has signed a five-year Drilling Services Agreement with ADNOC Onshore for the continued provision of drilling, workover and other well services. The contract will run for up to 5 years, for a total value of $3.8 billion. Structured to drive efficiency in work crews, rig move time and maintenance…
BHM Capital wins Listing Advisory License
DUBAI, UAE: BHM Capital, a leading financial services company in the UAE, has been granted a Listing Advisory License by the Securities and Commodities Authority (SCA), the body in charge of regulating the fund and investment industry in the UAE. In being licensed as a Listing Advisor, BHM Capital now has approval to provide Issuing…