In a landmark move set to reshape Abu Dhabi’s investment landscape, Multiply Group, the diversified investment holding company, has announced its intention to acquire 2PointZero and Ghitha Holding. The deal, executed through a strategic share swap, will forge a new enterprise valued at an immense 120 billion UAE dirham ($32.6 billion).
A Landmark Share Swap Transaction
The acquisition will be facilitated by Multiply Group issuing approximately 23.36 billion new shares to the shareholders of 2PointZero and Ghitha Holding. This will significantly expand Multiply Group’s capital base, increasing its share capital from AED 2.8 billion to AED 8.64 billion. Upon completion, the consolidated entity will comprise 34.56 billion shares, reflecting the massive scale of the new powerhouse. The transaction remains subject to the necessary shareholder and regulatory approvals.
Strategic Consolidation for Growth
According to Multiply Group, the merger is designed to enhance operational and investment efficiency across its extensive portfolio. By consolidating complementary assets from 2PointZero and Ghitha Holding under a single, publicly listed platform, the group aims to unlock significant synergies and streamline operations. This move underscores the company’s stated focus on aggressively growing its bottom line through both organic expansion and strategic inorganic acquisitions.
Integrating Diverse Portfolios
The acquisition brings two significant Abu Dhabi-based entities into the Multiply Group fold. 2PointZero is a prominent UAE investment platform with a portfolio of scalable assets in key sectors like energy, mining, and financial services. The firm was previously poised for an IPO in Abu Dhabi, as announced earlier this year. Ghitha Holding is a major conglomerate operating in the vital food and agriculture sectors, with extensive operations in food production and distribution.
About Multiply Group
Multiply Group is an Abu Dhabi-based holding company that invests in and operates a diversified portfolio of high-growth, cash-generating businesses. The Group’s operating verticals span Mobility, Energy and Utilities, Media and Communications, and Beauty and Wellness. Its investment arm, Multiply+, manages a global portfolio with investments across a range of asset classes.
Source: Zawya
