DUBAI, UAE: GFH Partners, a subsidiary of GFH Financial Group, has acquired a diversified logistics and industrial portfolio worth $150 million in Saudi Arabia and the UAE. The portfolio includes light industrial and cold storage facilities, distribution centers, and warehousing assets that are leased to a mix of international and regional tenants, including blue-chip companies….
Category: MENA
Corporate news and announcements from the stock markets of Middle East and North Africa.
Saudia enters a new era through major re-brand strategy
JEDDAH, KSA: Saudia, the national flag carrier of Saudi Arabia, revealed its new brand identity and livery during a milestone event in Jeddah, in the presence of Royal Highnesses, Excellencies and leaders from both the public and private sectors, as well as prominent media correspondents and aviation experts. This new identity is in line with…
Noatum announces the acquisition of Sesé’s Finished Vehicles Logistics
ABU DHABI, UAE: AD Ports Group announced that Noatum, which now leads its Logistics Cluster operations, has signed the agreement for the acquisition of the 100% equity ownership of Sesé Auto Logistics, the Finished Vehicles Logistics (FVL) business of Grupo Logístico Sesé, for a total purchase consideration (Enterprise Value – EV) of EUR 81 million….
GULFNAV submits proposal to acquire Brooge Petroleum and Gas Investment Company
DUBAI, UAE: Gulf Navigation Holding (GULFNAV) has submitted a formal proposal to fully acquire Brooge Petroleum and Gas Investment Company (BPGIC) from Brooge Energy Limited (BEL), a Leading Oil Refinery & Storage Company Listed on NASDAQ. GULFNAV stated that this proposed acquisition will be funded through a combination of cash and shares in GULFNAV. The…
Fertiglobe and AD Ports Group join forces to boost fertilizer and green fuel trade
ABU DHABI, UAE: Fertiglobe, a joint venture between ADNOC and OCI Global, is the world’s biggest exporter and producer of urea and ammonia, which are used as fertilizers. It also makes green ammonia, which is a clean fuel. Fertiglobe has signed an agreement with AD Ports Group, a company that manages ports and logistics in…
Toko and Virtuzone sign collaboration to launch Dubai’s first tokenised equity crowd funding platform
DUBAI, UAE: TOKO FZE a leading innovator in the FinTech sector, born out of global law firm DLA Piper, announces a transformative strategic partnership with Virtuzone, a pioneer in business solutions and corporate services for the region. The establishment of a tokenized equity crowd-funding platform will further cement Dubai’s standing at the forefront of financial…
Amanat and Mada International Holding join forces to pursue healthcare PPP projects in Saudi Arabia
DUBAI, UAE: Amanat Holdings PJSC, the leading healthcare and education listed investment company, and Mada International Holding, one of the leading and well diversified infrastructure developers in the Kingdom of Saudi Arabia (KSA), have announced a strategic partnership to collaborate on public-private partnership (PPP) projects in the healthcare sector in Saudi Arabia, with a focus…
ADNOC Gas signs $450-550 million LNG supply agreement with PetroChina International Co.
ABU DHABI, UAE: ADNOC Gas plc, a world-class integrated gas processing company, today announced an agreement, valued between $450 million (AED1.65 billion) and $550 million (AED2 billion), to supply Liquefied Natural Gas (LNG) to PetroChina International Company Limited, a subsidiary of PetroChina Company Limited, one of the leading oil and gas producers and distributors in…
Multiply Group acquires majority stake in Media 247 for AED 225 million
Abu Dhabi, UAE: Multiply Group, an Abu Dhabi-based investment holding company, has completed its acquisition of a 55% majority stake in Media 247, a leading outdoor advertising firm in the UAE, for AED 225 million. The acquisition price has been adjusted as a result of the Company’s strong financial performance during the first half of…
Empower’s summer campaign succeeds in rationalizing energy consumption, reducing bills
DUBAI: Empower, the world’s largest district cooling services provider, announced the success of its summer campaign ‘Set and Save 24°C’ to reduce energy consumption and bills. The campaign, which runs until the end of summer, aims to promote sustainability among its customers and provide eco-friendly and high-quality district cooling services. The company said that it…
Farid Al Mulla named as the new Chief Executive Officer of Emirates Islamic
DUBAI, UAE: Farid Al Mulla has been named as the new Chief Executive Officer of Emirates Islamic, one of the UAE’s leading Islamic financial institutions. He will take over from Salah Amin, who is retiring after serving the Emirates NBD Group for nearly 35 years. Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of…
SABIC sells steel subsidiary Hadeed to PIF for $3.33 billion
DUBAI, UAE: SABIC, a global petrochemical giant, announced on Sunday that it had reached an agreement to sell its steel-making subsidiary Hadeed to the Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, for $3.33 billion. The deal, which is expected to be finalized by the first quarter of 2024, will help SABIC to focus…