Established in Abu Dhabi in 2018, ADQ is one of the region's largest holding companies with investments locally and internationally. Both an asset owner and investor, ADQ’s broad portfolio of major enterprises span key sectors of a diversified economy, including energy and utilities, food and agriculture, healthcare and pharma, and mobility and logistics, amongst others. As a strategic partner of Abu Dhabi’s government, ADQ is committed to accelerating the transformation of the emirate into a globally competitive and knowledge-based economy.

Image: ADQ

Abu Dhabi's ADQ and Safe Haven Solutions, a Netherlands-based climate-smart agriculture solution provider, are collaborating on the construction of a high-tech greenhouse at ADQ's AgTech Park in KEZAD.

The automated 10-hectare facility will use advanced agriculture technology to increase sustainable food production in the UAE.

With the UAE's dependency on imports of produce and the country's annual consumption of fruits and vegetables projected to increase by 18 per cent between 2019 and 2026, this is seen as a key project.

Designed with sustainability considerations, the greenhouse facility will operate with an efficient cooling system that reduces its carbon and water footprint, enabling the year-round cultivation of tomatoes and cucumbers in a carbon-neutral, climate-controlled environment.

Phase two of the ADQ and Safe Haven Solutions collaboration

In phase two, the project will enter the commercial stage and double the growing area of crops to 20 hectares.

Consumers will benefit from high-quality local produce that remains fresh for longer due to a shorter supply chain.

The project's scalability aims to minimise food waste by aligning production with local market demand.

Safe Haven Solutions' horticulture experts will collaborate with local researchers and agronomists to encourage the development of technology that is ideally adapted to the local climate and growing conditions, while training facilities will enable knowledge transfer to Emirati talent to nurture the next generation of specialised growers.

Gil Adotevi, CEO - Food & Agriculture at ADQ, said: "Our partnership with Safe Haven Solutions expands on our mission to increase Abu Dhabi's sustainable agricultural footprint. By driving investments in AgTech solutions, we are strengthening the UAE's ability to grow more produce domestically.

"As such, AgTech Park is rapidly emerging as a hub of large-scale, climate-controlled, high-tech farming and R&D projects."

Dr Nadeem Mohammed Aslam, co-founder of Safe Haven Solutions, added:"Sustainable agriculture is of paramount importance as we strive to strengthen food security and limit our impact on the environment. We are confident that the AgTech Park, paired with our innovative technologies, will help strengthen the foundation of the UAE's agriculture sector as it accelerates towards securing year-round access to nutritious food that feeds a growing nation."

ADQ's collaboration with Safe Haven Solutions represents another project launched within the AgTech Park in KEZAD.

Earlier this year, ADQ commenced the operational phase of the Park with the launch of a vertical farming project in partnership with Zero, a high-impact technology company headquartered in Italy.

ADQ, Safe Haven Solutions to build high-tech greenhouse

Abu Dhabi's investment holding company ADQ and the Netherlands-based smart agriculture company Safe Haven Solutions will partner to build a high-tech greenhouse as the UAE seeks to enhance food security.

The automated 10-hectare facility, located in ADQ's AgTech Park, will use advanced agriculture technology to increase sustainable food production in the country, ADQ said in a statement on Monday.

Using a cooling system that reduces its carbon and water footprint, the greenhouse facility will grow tomatoes and cucumbers year-round in a carbon-neutral, climate-controlled environment.

In phase two, the project will enter the commercial stage and double the growing area of crops to 20 hectares, ADQ said.

"Our partnership with Safe Haven Solutions expands on our mission to increase Abu Dhabi's sustainable agricultural footprint. By driving investments in AgTech solutions, we are strengthening the UAE's ability to grow more produce domestically," Gil Adotevi, chief executive of food and agriculture at ADQ, said.

"As such, AgTech Park is rapidly emerging as a hub of large-scale, climate-controlled, high-tech farming and R&D projects."

Al Ain-based AgTech Park, the agricultural venture of ADQ, in March started operations with the opening of a multipurpose vertical farm. It is located in Khalifa Economic Zones Abu Dhabi Group (Kezad), which is home to a network of food industries across the entire value chain.

The UAE has been bolstering its support for AgTech projects to reduce its reliance on imports, which are thought to make up about 90 per cent of the food consumed in the country.

Abu Dhabi has launched a number of initiatives, including offering $41 million in grants and incentives worth $545 million to support the expansion of the sector.

The UAE residents are already seeing evidence of recent efforts to grow food in the country as locally harvested farm produce is now a common sight at markets or on dining menus.

Much of this has surfaced over the past few years as vertical and hydroponic farming ventures, as well as research and cloud-seeding, bear fruit.

"Sustainable agriculture is of paramount importance as we strive to strengthen food security and limit our impact on the environment," Nadeem Mohammed Aslam, co-founder of Safe Haven Solutions, said.

"We are confident that the AgTech Park, paired with our innovative technologies, will help strengthen the foundation of the UAE's agriculture sector as it accelerates towards securing year-round access to nutritious food that feeds a growing nation."

Kezad's robust infrastructure and flexible spaces provide facilities for companies to tailor projects and enable the production, storage and distribution of food staples for the benefit of the country's expanding agriculture sector, said Abdullah Al Hameli, chief executive of Economic Cities & Free Zones at AD Ports Group.

ADQ and Safe Haven launch high-tech greenhouse project to bolster UAE's food security

Q

ALQUDRA 11.18% 3.68 0.37 IHC

ASMAK 0.10% 402.40 0.40

Abu Dhabi - Mubasher: ADQ and IHC Capital Holding, a subsidiary of the listed International Holding Company (IHC), made a bid to merge ADQ's 100% interest in Abu Dhabi National Exhibitions Company (ADNEC) besides its majority stake in Modon Properties along with IHC Capital's shareholding in Modon into Q Holding to establish a gigantic regional platform.

The proposed transaction aims to form a regional leader in real estate, hospitality, events, catering, and development of urban projects, according to a press release.

Meanwhile, the merged group would have an implied market capitalisation of nearly AED 44 billion, equivalent to $12 billion, with a broad portfolio of real estate developments, venues, land plots, and hospitality assets.

Once the transaction is closed, Q Holding will issue a convertible instrument for both ADQ and IHC Capital which would convert into nearly 9.49 billion ordinary shares at a price of AED 2.70 per share in Q Holding's capital.

It is worth noting that the offer implies an equity valuation of around AED 18.50 billion for Q Holding.

After completing the proposed deal, ADQ and IHC Capital would possess nearly 38.70% and 19.40%, respectively, of the entire issued share capital of Q Holding.

Managing Director (MD) and CEO at ADQ, Mohamed Hassan Alsuwaidi, who also serves as the UAE Minister of Investment said: "This proposed offer provides a unique opportunity to generate value by bringing together key real estate and hospitality assets, creating an Abu Dhabi champion that fuels its ambitions."

Meanwhile, IHC's CEO and MD, Syed Basar Shueb, commented: "We firmly believe that the proposed transaction of consolidating Abu Dhabi's leading tourism and real estate assets into Q holding will prove to be significantly beneficial to the growth and the development of the industry."

If the board of Q Holding accepts the bid, it will be subject to shareholder and regulatory approvals.

It is worth noting that Palms Sports, a subsidiary of IHC, took over security services firm Securiguard Middle East for AED 300 million in July 2023.

ADQ, IHC's unit target shareholding in Q Holding to launch regional platform

The automated 10-hectare facility will leverage advanced agriculture technology to increase sustainable food production in the UAE. Designed with sustainability considerations, the greenhouse facility will operate with an efficient cooling system that reduces its carbon and water footprint, enabling the year-round cultivation of tomatoes and cucumbers in a carbon-neutral, climate-controlled environment. In phase two, the project will enter the commercial stage and double the growing area of crops to 20 hectares.

ADQ and Safe Haven launch high-tech greenhouse project

The Abu Dhabi state investor ADQ-backed PureHealth has signed an agreement to acquire Circle Health Group, the UK-based independent operator of hospitals in a deal valued at 4.41 billion dirhams ($1.2 billion).

The acquisition would be healthcare platform's first entry into the UK market and forms part of its global expansion, the Abu Dhabi Media Office said in a statement on Monday.

As part of the acquisition, PureHealth will gain 100% of Circle Health Group's portfolio, as well as the new state-of-the-art hospitals, including the UK's first purpose-built state-of-the-art rehabilitation hospital.

ADQ, which manages about $157 billion in assets, has a pharma portfolio, which also includes a stake in Indian biosimilars producer Biocon Biologics.

It merged its health care subsidiaries with Alpha Dhabi's Pure Health Medical Supplies in 2022 to create PureHealth, which includes Abu Dhabi Health Services Company (SEHA), The National Health Insurance Company PJSC (DAMAN), Tamouh Healthcare, Yas Clinic Group and Abu Dhabi Stem Cell Center.

In May this year, PureHealth completed an equity investment of AED 1.8 billion in US healthcare provider Ardent Health Services.

(Writing by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@lseg.com

Abu Dhabi's ADQ-backed PureHealth acquires UK's private healthcare group for $1.2bln

The 24-year-old Karlijn Swinkels is an experienced professional cyclist from Team Jombo-Visma who brings robust experience to the UAE Team ADQ.

UAE Team ADQ announced on Monday the first addition to its 2024 season roster, 24-year-old Karlijn Swinkels from the Netherlands.

The new rider is an experienced professional cyclist from Team Jombo-Visma who brings robust experience to the UAE Team ADQ. Swinkels has had successful seasons in 2022 and 2023, with 4th place in the challenging Classics race Gent-Wevelgem.

"UAE Team ADQ has a long-term plan and a clear vision to be the world's top professional women's cycling team, and attracting top talent is central to our strategy. In two short years, we have achieved great strides globally through attracting and investing in accomplished riders who share our strong values," said Melissa Moncada, Head of UAE Team ADQ.

"We seek to balance experience and ambition, and our rider 2024 Roster reflects this. I have a lot of confidence for the coming season, with Karlijn joining us shortly, and know that the team will continue to perform strongly and collaborate to bring our vision to life," concluded Moncada.

Netherlands' rider Swinkels to join UAE Team ADQ in 2024

Ahmed Alahmadi, former GFH director and sovereign wealth fund employee, will sit on the DFM-listed investment bank's board

Dubai-listed Shuaa Capital has announced the appointment of a new board member to take the seat of its resigned managing director.

Ahmed Alahmadi, formerly a senior investment manager at Abu Dhabi sovereign wealth fund ADQ and current CEO of Albaher Real Estate Development, will return to the board having previously served from November 2019 to November 2020.

He will replace Jassim Alseddiqi, who resigned earlier this month and reduced his stake in the company on resignation to 20.3%.

Educated at University College London (UCL) and Imperial College London and formerly a director of GFH Financial Group, Alahmadi is also a former employee of Rothschild & Co in Dubai and Abu Dhabi sovereign investor Mubadala.

He serves as an independent member of the audit and risk committee for Abu Dhabi Securities Exchange (ADX)-listed Presight AI Holdings.

Shuaa said in a statement to Dubai Financial Market (DFM) today that Alahmadi will sit on the board until term expiry in April 2024, subject to ratification by the company's general assembly.

Group CEO Fawad Tariq Khan said: "We are pleased to welcome back Ahmed Alahmadi to the board of SHUAA Capital.

"His vast expertise, combined with his prior strategic engagements with our organisation, further solidifies and enriches the depth and breadth of our board's capabilities."

(Writing by Imogen Lillywhite; editing by Daniel Luiz)

imogen.lillywhite@lseg.com

Dubai-listed Shuaa Capital appoints former ADQ official as board member

Dubai: The Egyptian developer Sodic - owned by Abu Dhabi's Aldar and ADQ - will build two luxury hotels and branded residences under the 'Nobu' branding at two of its projects in West Cairo and on the North Coast. The scope of the deal also extends to a Nobu restaurant.

The agreement builds on Aldar's recent partnership with Nobu to bring a similar mix to Mamsha Beach on Saadiyat Island.

"The expansion of Sodic's luxury property development portfolio underscores the demand for new real estate concepts in prime locations in Egypt," said Talal Al Dhiyebi, Group CEO of Aldar Properties and Chairman of Sodic. "And Aldar's belief in the long-term growth potential of the market.

"We are confident that these developments will not only solidify SODIC's market-leading position but also cater to the increasing demand for distinctive and high-end properties we are witnessing across the growing West Cairo and North Coast markets."

Sodic recorded Dh335 million (2.7 billion Egyptian pounds) in revenue and Dh976 million (8.2 billion pounds) in development sales during H1-23.

It expanded its landbank through the buying of the Caesar back-plot and a 440-acre residential project on the North Coast of Egypt.

Aldar-ADQ-owned developer Sodic to build 2 'Nobu' hotels in Egypt 

Abu Dhabi: ADQ, an investment and holding company based in Abu Dhabi, and IHC Capital submitted a joint proposal to Q Holding, to merge ADQ's complete ownership of Abu Dhabi National Exhibitions Company (ADNEC) and its majority stake in Modon Properties with IHC Capital's entire interest in Modon, all to be combined into Q Holding. This move, announced on Wednesday, is intended to establish a dominant player in the region's real estate, hospitality, events, catering, and urban development sectors.

The potential merger is seen as a strategic step that would enhance Abu Dhabi's status as an integrated real estate and hospitality leader, further supporting the emirate's economic transformation efforts. By consolidating resources and operations, the proposed combination is expected to generate substantial value, leading to a larger and more efficient entity with optimized cost structures. Furthermore, the integration of assets would offer diversification benefits, reducing industry-specific risks and securing additional investment opportunities while improving supply chain efficiencies and overall profitability.

Read more BlackRock, KKR near sale of ADNOC oil pipeline stake to ADQ Abu Dhabi wealth fund ADQ held early talks to acquire Lazard Abu Dhabi investment firm ADQ buys stake in $14.5b Canadian venture capital firm Sagard, along with Bank of Montreal

"This proposed offer provides a unique opportunity to generate value by bringing together key real estate and hospitality assets, creating an Abu Dhabi champion that fuels its ambitions," said Mohamed Hassan Alsuwaidi, UAE Minister of Investment and MD & CEO at ADQ. "The combined assets would benefit from increased scale and new revenue opportunities that will position it well for future growth."

The resulting entity would have an implied market capitalization of around Dh44 billion (approximately $12 billion), boasting a diverse portfolio of real estate developments, venues, land plots, and hospitality assets.

"We firmly believe that the proposed transaction of consolidating Abu Dhabi's leading tourism and real estate assets into Q holding will prove to be significantly beneficial to the growth and the development of the industry," said Syed Basar Shueb, IHC's CEO and Managing Director. "We envision this as a strategic alignment that will not only magnify our capacity for exceptional real estate development but also effectively bridge the gap between tourism and real estate sectors that is poised for further growth and expansion."

As part of the proposed transaction's closing, Q Holding will issue a convertible instrument to ADQ and IHC Capital. This instrument will be converted into approximately 9,491 million ordinary shares in Q Holding, with a conversion price of Dh2.70 per share. The offer values Q Holding at approximately Dh18.5 billion. Following the completion of the transaction, ADQ and IHC Capital will hold approximately 38.7 per cent and 19.4 per cent, respectively, of the entire issued share capital of Q Holding.

The benefits of this combination would be directly available to public investors.

If the Board of Q Holding recommends proceeding with the transaction, it will be subject to shareholder and regulatory approvals.

ADQ, IHC Capital propose mega-merger to create regional real estate and hospitality powerhouse

Abu Dhabi state-backed investment and holding companies are consolidating assets to set up one of the largest real estate, hospitality, events, and catering platforms in the region as the oil-rich emirate pursues its strategy of diversifying away from hydrocarbons.

Investment and holding company ADQ and IHC Capital Holding LLC (IHC Capital) have submitted an offer to Q Holding PJSC, to combine ADQ's 100% shareholding of Abu Dhabi National Exhibitions Company PJSC (ADNEC), as well as its majority ownership interest in Modon Properties PJSC, and IHC Capital's entire interest in Modon into Q Holding.

The combined group would have an implied market capitalisation of approximately 44 billion dirhams ($12 billion) with an extensive portfolio of real estate developments, venues, land plots and hospitality assets, a statement from ADQ said on Wednesday.

Upon closing of the proposed transaction, Q Holding will issue to ADQ and IHC Capital a convertible instrument that would convert into approximately 9,491 million ordinary shares in the capital of Q Holding.

The price at which the convertible instrument will convert into shares in Q Holding is AED 2.70 per share. The offer implies an equity valuation of approximately AED 18.5 billion for Q Holding.

Following completion, ADQ and IHC Capital, which is a subsidiary of International Holding Company, would respectively own approximately 38.7% and 19.4% of the entire issued share capital of Q Holding.

Mohamed Hassan Alsuwaidi, MD & CEO at ADQ, said the proposed offer provides a unique opportunity to generate value by bringing together key real estate and hospitality assets.

"The combined assets would benefit from increased scale and new revenue opportunities that will position it well for future growth," he said.

(Reporting by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@lseg.com

Abu Dhabi investment giants ADQ, IHC Capital set to consolidate real estate, hospitality assets

DUBAI, Aug 2 (Reuters) - Abu Dhabi sovereign wealth fund ADQ and a unit of local conglomerate IHC have submitted an offer to wrap their shareholdings in Modon Properties into IHC's Q Holding.

ADQ will also add its shareholding in Abu Dhabi National Exhibitions Company.

The proposed transaction would create one of the largest real estate, hospitality, events, and catering platforms in the region, ADQ and IHC said in a statement on Wednesday.

The combined group would have an implied market capitalisation of approximately 44 billion dirhams ($11.98 billion), they said.

($1 = 3.6730 UAE dirham) (Reporting by Hadeel Al Sayegh)

Abu Dhabi's ADQ, IHC propose wrapping real estate, events stakes...

(Adds response from Q Holding in paragraph 5, details in paragraph 6-9)

DUBAI, Aug 2 (Reuters) - Abu Dhabi sovereign wealth fund ADQ and a unit of local conglomerate IHC have submitted an offer to wrap their shareholdings in Modon Properties into IHC's Q Holding.

ADQ will also add its shareholding in Abu Dhabi National Exhibitions Company.

The proposed transaction would create one of the largest real estate, hospitality, events, and catering platforms in the region, ADQ and IHC said in a statement on Wednesday.

The combined group would have an implied market capitalisation of approximately 44 billion dirhams ($11.98 billion), they said.

In a separate statement on Wednesday, Q Holding confirmed receiving the offer from ADQ and IHC Capital, and said its board will consider the proposed transaction before making any recommendation to shareholders.

The transaction structure would see Q Holding issuing a convertible instrument to ADQ and IHC Capital.

The instrument would convert into approximately 9,491 million ordinary shares in the capital of Q Holding at a price of 2.70 dirhams per share.

The offer implies an equity valuation of approximately 18.5 billion dirhams for Q Holding.

ADQ and IHC Capital would own a respective 38.7% and 19.4% of the entire issued share capital of Q Holding.

($1 = 3.6730 UAE dirham) (Reporting by Hadeel Al Sayegh; Editing by Christopher Cushing)

UPDATE 1-Abu Dhabi's ADQ, IHC propose wrapping real estate, events stakes into Q Holding

DUBAI, Aug 2 (Reuters) - Abu Dhabi sovereign wealth fund ADQ and a unit of local conglomerate IHC (IHC.AD) have submitted an offer to wrap their shareholdings in Modon Properties into IHC's Q Holding (QHOLDING.AD).

ADQ will also add its shareholding in Abu Dhabi National Exhibitions Company.

The proposed transaction would create one of the largest real estate, hospitality, events, and catering platforms in the region, ADQ and IHC said in a statement on Wednesday.

The combined group would have an implied market capitalisation of approximately 44 billion dirhams ($11.98 billion), they said.

In a separate statement on Wednesday, Q Holding confirmed receiving the offer from ADQ and IHC Capital, and said its board will consider the proposed transaction before making any recommendation to shareholders.

The transaction structure would see Q Holding issuing a convertible instrument to ADQ and IHC Capital.

The instrument would convert into approximately 9,491 million ordinary shares in the capital of Q Holding at a price of 2.70 dirhams per share.

The offer implies an equity valuation of approximately 18.5 billion dirhams for Q Holding.

ADQ and IHC Capital would own a respective 38.7% and 19.4% of the entire issued share capital of Q Holding.

Abu Dhabi's ADQ, IHC propose wrapping real estate, events stakes into Q Holding

To create a regional leader across real estate, events and hospitality

The proposed transaction will create a world-class local home-grown platform through a combination of real estate and hospitality assets capable of delivering the highest service and value to Abu Dhabi The combination would deliver to Q Holding increased scale, revenue diversification, and cost synergies

Abu Dhabi, UAE - ADQ, an Abu Dhabi-based investment and holding company, and IHC Capital Holding LLC (IHC Capital), a subsidiary of International Holding Company (ADX:IHC) have submitted an offer to Q Holding PJSC (Q Holding) (ADX: QHOLDING), a leading investment company in Abu Dhabi, to combine ADQ's 100% shareholding of Abu Dhabi National Exhibitions Company PJSC (ADNEC), as well as its majority ownership interest in Modon Properties PJSC (Modon), and IHC Capital's entire interest in Modon into Q Holding, with the aim to create a regional leader in real estate, hospitality, events, catering and development of urban projects.

The proposed transaction would create one of the largest real estate, hospitality, events, and catering platforms in the region that would enhance Abu Dhabi's position as an integrated real estate and hospitality leader, complementing the emirate's economic transformation efforts.

The proposed combination promises to create substantial value by consolidating resources and operations, forming a larger and more efficient entity with an optimized cost structure. The consolidation of assets offers diversification benefits, by mitigating industry-specific risks and securing more investment opportunities, as well as enhancing supply chain efficiencies that will improve profitability. The larger balance sheet and robust cash flows will deliver the combined entity with increased financial flexibility, enabling more strategic investments, debt reduction, and potential shareholder distributions. The accumulated benefits of this combination would be directly available to public investors, positioning the new Q Holding as an attractive value proposition for future investment.

The combined group would have an implied market capitalization of approximately AED 44 Billion (approximately USD 12 Billion) with an extensive portfolio of real estate developments, venues, land plots and hospitality assets.

Upon closing of the proposed transaction, Q Holding will issue to ADQ and IHC Capital a convertible instrument that would convert into approximately 9,491 million ordinary shares in the capital of Q Holding. The price at which the convertible instrument will convert into shares in Q Holding is AED 2.70 per share. The offer implies an equity valuation of approximately AED 18.5 billion for Q Holding. Following completion, ADQ and IHC Capital would respectively own approximately 38.7 percent and 19.4 percent of the entire issued share capital of Q Holding.

H.E. Excellency Mohamed Hassan Alsuwaidi, UAE Minister of Investment and MD & CEO at ADQ said: "This proposed offer provides a unique opportunity to generate value by bringing together key real estate and hospitality assets, creating an Abu Dhabi champion that fuels its ambitions. The combined assets would benefit from increased scale and new revenue opportunities that will position it well for future growth."

Syed Basar Shueb, IHC's Chief Executive Officer and Managing Director, said: "We firmly believe that the proposed transaction of consolidating Abu Dhabi's leading tourism and real estate assets into Q holding will prove to be significantly beneficial to the growth and the development of the industry. We envision this as a strategic alignment that will not only magnify our capacity for exceptional real estate development but also effectively bridge the gap between tourism and real estate sectors that is poised for further growth and expansion."

If the Board of Q Holding recommends proceeding with the transaction, it will be subject to shareholder and regulatory approvals.

-Ends-

About ADQ

Established in Abu Dhabi in 2018, ADQ is one of the region's largest holding companies with direct and indirect investments in more than 90 companies locally and internationally. Both an asset owner and investor, ADQ's broad portfolio of major enterprises span key sectors of a diversified economy, including energy and utilities, food and agriculture, healthcare and pharma, and mobility and logistics, amongst others. As a strategic partner of Abu Dhabi's government, ADQ is committed to accelerating the transformation of the emirate into a globally competitive and knowledge-based economy.

For more information, visit adq.ae or write to media@adq.ae. You can also follow ADQ on Twitter, Instagram and LinkedIn.

About International Holding Company (IHC)

IHC was founded in 1998 as part of an initiative to diversify and develop non-oil business sectors in the UAE and has grown to become the most valuable listed holding company in the Middle East with a market cap of AED 648 billion as of Sep 30, 2022. The company endeavors to implement sustainability, innovation, and economic diversification initiatives across what is now one of the region's largest conglomerates. IHC is included in FTSE ADX 15 Index (FADX 15), representing the top 15 largest and most liquid companies on the ADX.

IHC has a clear objective of enhancing its portfolio through acquisitions, strategic investments, and business combinations. Comprising more than 422 subsidiaries and 82,000 employees, IHC seeks to expand and diversify its holdings across a growing number of sectors, including Real Estate Developments, Agriculture, Healthcare, Food and Beverage, Utilities, Industries, IT and Communications, Retail and Leisure, and Capital.

With a core strategy to enhance shareholder value and achieve growth, IHC drives operational synergies and maximizes cost efficiencies across all verticals - it also continues to evaluate investment opportunities through direct ownership and entering partnerships in the UAE and abroad. As the world changes and new opportunities arise, IHC remains focused on resilience, innovation, and redefining the marketplace for itself, its clients, and its partners.

ADQ and IHC Capital offer to combine their shareholdings in Modon along with ADQ's shareholding in ADNEC Group into Q Holding

ABU DHABI, 2nd August, 2023 (WAM) -- ADQ, an Abu Dhabi-based investment and holding company, and IHC Capital Holding LLC, a subsidiary of International Holding Company, have submitted an offer to Q Holding PJSC. The proposal combines ADQ's 100% shareholding of Abu Dhabi National Exhibitions Company (ADNEC) and its majority ownership interest in Modon Properties and IHC Capital's entire interest in Modon into Q Holding.

The move aims to create a regional leader in real estate, hospitality, events, catering and the development of urban projects.

The proposed transaction would create one of the region's largest real estate, hospitality, events, and catering platforms, enhancing Abu Dhabi's position as an integrated real estate and hospitality leader and complementing the emirate's economic transformation efforts.

The proposed combination will create substantial value by consolidating resources and operations, forming a larger and more efficient entity with an optimised cost structure. The consolidation of assets offers diversification benefits by mitigating industry-specific risks, securing more investment opportunities, and enhancing supply chain efficiencies that will improve profitability.

The larger balance sheet and robust cash flows will deliver the combined entity with increased financial flexibility, enabling more strategic investments, debt reduction, and potential shareholder distributions. The accumulated benefits of this combination would be directly available to public investors, positioning the new Q Holding as an attractive value proposition for future investment.

The combined group would have an implied market capitalisation of approximately AED44 billion (approximately US$12 billion) with an extensive portfolio of real estate developments, venues, land plots and hospitality assets.

Upon closing the proposed transaction, Q Holding will issue to ADQ and IHC Capital a convertible instrument that would convert into approximately 9,491 million ordinary shares in the capital of Q Holding. The price at which the convertible instrument will convert into shares in Q Holding is AED 2.70 per share.

The offer implies an equity valuation of approximately AED18.5 billion for Q Holding. Following completion, ADQ and IHC Capital would respectively own approximately 38.7 percent and 19.4 percent of the entire issued share capital of Q Holding.

Mohamed Hassan Alsuwaidi, MD and CEO at ADQ, said, "This proposed offer provides a unique opportunity to generate value by bringing together key real estate and hospitality assets, creating an Abu Dhabi champion that fuels its ambitions. The combined assets would benefit from increased scale and new revenue opportunities that will position it well for future growth."

Syed Basar Shueb, IHC's Chief Executive Officer and Managing Director, said, "We firmly believe that the proposed transaction of consolidating Abu Dhabi's leading tourism and real estate assets into Q holding will be significantly beneficial to the growth and the development of the industry. We envision this as a strategic alignment that will magnify our capacity for exceptional real estate development and effectively bridge the gap between tourism and real estate sectors poised for further growth and expansion."

If the Board of Q Holding recommends proceeding with the transaction, it will be subject to shareholder and regulatory approvals.

ADQ and IHC Capital to combine their shareholdings in Modon along with ADQ's shareholding in ADNEC Group into Q Holding 

Image: Getty Images

Abu Dhabi's ADQ and IHC Capital Holding have submitted an offer to Q Holding to combine ADQ's 100 per cent shareholding of Abu Dhabi National Exhibitions Company (ADNEC), as well as its majority ownership interest in Modon Properties (Modon), and IHC Capital's entire interest in Modon into Q Holding.

The proposed transaction would create one of the largest real estate, hospitality, events, and catering platforms in the region that would enhance Abu Dhabi's position as an integrated real estate and hospitality leader.

Benefits of the proposed merger

The proposed combination will form a larger and more efficient entity with an optimised cost structure.

The consolidation of assets offers diversification benefits, by mitigating industry-specific risks and securing more investment opportunities, as well as enhancing supply chain efficiencies that will improve profitability.

The larger balance sheet and robust cash flows will deliver the combined entity with increased financial flexibility, enabling more strategic investments, debt reduction, and potential shareholder distributions.

The accumulated benefits of this combination would be directly available to public investors, positioning the new Q Holding as an attractive value proposition for future investment.

The combined group would have an implied market capitalisation of approximately Dhs44bn (approximately $12bn) with an extensive portfolio of real estate developments, venues, land plots and hospitality assets.

Upon closing of the proposed transaction, Q Holding will issue to ADQ and IHC Capital a convertible instrument that would convert into approximately 9,491 million ordinary shares in the capital of Q Holding.

The price at which the convertible instrument will convert into shares in Q Holding is Dhs2.70 per share. The offer implies an equity valuation of approximately Dhs18.5bn for Q Holding.

ADQ, IHC stakes if proposed merger is successful

Following completion, ADQ and IHC Capital would respectively own approximately 38.7 percent and 19.4 percent of the entire issued share capital of Q Holding.

Mohamed Hassan Alsuwaidi, MD and CEO at ADQ said: "This proposed offer provides a unique opportunity to generate value by bringing together key real estate and hospitality assets, creating an Abu Dhabi champion that fuels its ambitions. The combined assets would benefit from increased scale and new revenue opportunities that will position it well for future growth."

Syed Basar Shueb, IHC's CEO and MD, said: "We firmly believe that the proposed transaction of consolidating Abu Dhabi's leading tourism and real estate assets into Q holding will prove to be significantly beneficial to the growth and the development of the industry. We envision this as a strategic alignment that will not only magnify our capacity for exceptional real estate development but also effectively bridge the gap between tourism and real estate sectors that is poised for further growth and expansion."

If the board of Q Holding recommends proceeding with the transaction, it will be subject to shareholder and regulatory approvals.

In July, Aldar Properties, IHC and ADNEC Group agreed to merge their property and facilities management businesses within the Aldar Estates platform.

The merger will see IHC and ADQ-backed ADNEC become strategic shareholders in the merged entity, with Aldar retaining a majority stake and control of the combined platform.

Read: Aldar, IHC, ADNEC merge property, facilities mgmt assets

ADQ

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ADQ and Safe Haven launch high-tech greenhouse project to bolster UAE's food securi...

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