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WHAT WE’RE TRACKING TODAY | EnterpriseAM UAE
THIS MORNING: XRG to join LNG project in Argentina + Dewa invites bids for seventh phase of Mohammed bin Rashid Solar Park
... planned share-swap acquisitions of Ghitha Holding and 2PointZero Holding on Monday, 10 November, after the meeting was brought forward from its originally scheduled date of 12 November, according to a shareholder circular (pdf).Following completion, shareholders of 2PointZero will own 62.5% of Multiply, while IHC Food and IHC Companies Management (IHC CM)...
Wednesday, 5 November 2025
EARNINGS WATCH | EnterpriseAM UAE
Adnoc Drilling, e&, DIB, Aldar, Ghitha, and more report 3Q earnings
... wind vessel back in February.GHITHA- Abu Dhabi-based food manufacturerGHITHA Holding saw its net income drop to AED 25.4 mn in 3Q 2025, down from AED 42.5 mn the year before, according to its quarterly financials (pdf). Total revenues surged to AED 1.3 bn, up 14.3% y-o-y, driven primarily by higher sales of food and non-food goods. Gross earnings climbe...
Wednesday, 29 October 2025
WHAT WE’RE TRACKING TODAY | EnterpriseAM UAE
THIS MORNING: Incentives for hotels in Dubai South, Palm Jebel Ali, and more + AED-denominated physically deliverable gold contracts coming?
... THIS SPACE- #1- International Holding Company’s (IHC) board signed off on Multiply Group’s proposed share-swap acquisition of its subsidiaries Ghitha Holding and 2PointZero Holding, it said in a filing (pdf) to the ADX. The transaction, which is still pending shareholder and regulatory approval, will consolidate all three IHC subsidiaries u...
Wednesday, 22 October 2025
M&A WATCH | EnterpriseAM UAE
IHC buys a majority stake in Pakistan’s First Women Bank
ADX-listed International Holding Company (IHC) acquired a majority stake in Karachi-based First Women Bank Limited (FWBL) as part of a government-run privatization process, it said in a bourse filing (pdf). The size of the transaction wasn’t disclosed. FWBL will adopt a new name and identity, broadening its mandate beyond women-focused banking to promote financial inclusion across Pak...
Monday, 20 October 2025
WHAT WE’RE TRACKING TODAY | EnterpriseAM UAE
Dubai Investments taps banks to list its Dubai Investments Park unit + Masdar eyes USD 1 bn investment in Turkey?
... acquiring IHC’s 2PointZero and Ghitha Holding through a share swap agreement, creating a AED 120 bn listed entity. Plus: Alec Holding’s shares debuted on the DFM yesterday, rising on their first day of trading. ALSO- UAE startup investments were up 188% in 9M amid a surge in foreign capital, bucking the global trend and leading venture capital in the regi...
Thursday, 16 October 2025
M&A WATCH | EnterpriseAM UAE
Multiply to acquire 2PointZero and Ghitha in share swap
Multiply plots 2PointZero-Ghitha merger: Abu Dhabi-listed Multiply Group’s board approved plans to take full ownership of its IHC-linked peers 2PointZero andGhitha Holding through a share swap, it said in a statement (pdf). The transaction, which is currently under review, would consolidate the three under a single listed entity creating one of the emirate’s ...
Thursday, 16 October 2025
EARNINGS WATCH | EnterpriseAM UAE
More earnings pour in
... Guys, Cinnabon, and Zaatar w Zeit. GHITHA- GHITHA Holding saw its net income drop to AED 2 mn in 2Q, down from AED 106.8 mn the year before, according to its financials (pdf). This is due to a AED 71.8 mn boost from gains on a bargain purchase during 2Q 2024, while 2Q 2025 saw it take an AED 105.4 mn hit from discontinued operations. On the other hand, th...
Thursday, 31 July 2025
PLANET FINANCE | EnterpriseAM UAE
Waning trust in US Treasuries drives record demand for EM bonds
... was up 1.9%.CORPORATE ACTIONS- Ghitha Holding sells Egypt-based SPV to UAE subsidiary: Ghitha Holding's Egypt-based farming subsidiary Agrinv SPV inked an agreement to transfer 100% of its shares to Ghitha’s UAE-based fresh produce arm NRTC Food for USD 47 mn, according to a bourse disclosure (pdf). The transaction is subject to...
Thursday, 24 July 2025
PLANET FINANCE | EnterpriseAM UAE
UK leads global wealth exodus as UAE and Saudi Arabia maintain wealth haven status -Henley & Partners
... Lease Motorcycle Rental (-3.9%), Ghitha Holding (-1.5%) and Gulf Cement (-1.3%). Over on the DFM, the index rose 3.4% on turnover of AED 1.2 bn. Meanwhile, Nasdaq Dubai was up 4.9%.CORPORATE ACTIONS-Al Mal Capital REIT to distribute 7.5% dividend yield: Al Mal Capital REIT will pay an interim dividend of AED 0.0375 per unit for 1H 2025, representing a 7.5% annualized ...
Wednesday, 25 June 2025
ALSO ON OUR RADAR | EnterpriseAM UAE
G42 partners with US firm on AI models
... under one entity that is backed by Ghitha Holding and Yas Holding.BUSINESS-Swiss private markets giant Partners Group opened its new regional HQ in Abu Dhabi, as the firm looks to scale its footprint across the GCC and tap into a “technology-led transformation of industries” across the region, according to a press release. The new office will be headed up...
Wednesday, 18 June 2025
M&A WATCH | EnterpriseAM UAE
Sports consulting firm Elevate enters Middle East with Rise Group acquisition
... office, and Saudi Arabia’s Sedco Holding, and the transaction will see the two exit the JV. Background: In July, Ghitha subsidiary Al Ain Farms for Livestock Arabian Farms, acquired Arabian Farms for AED 240 mn. ADVISORS- Arabian Farms tapped Ernst & Young Corporate Finance as lead financial advisor for the transaction, and EY Law LLP served as its legal counsel.S...
Wednesday, 28 May 2025
M&A WATCH | EnterpriseAM UAE
Ghitha unit Invictus acquires majority stake in Angolan fertilizer business Angata
... Invictus Investment — a unit of Ghitha — is acquiring up to 65% of Angola-based fertilizer blending company Angata, according to a statement (pdf). The acquisition is taking place through a stake in holding company Mauritius-based Dagro Chemicals, for which Invictus has already secured board approval, according to a separate filing (pdf) to the Abu Dhabi bourse. The t...
Tuesday, 27 May 2025
WHAT WE’RE TRACKING TODAY | EnterpriseAM UAE
THIS MORNING: More Ghitha acquisitions coming? + Flydubai resumes flights to Damascus
... of 29°C.WATCH THIS SPACE- #1- Ghitha eyes further acquisitions in MENA, Southeast Asia + exports to the US: ADX-listed food-maker Ghitha is eyeing acquisitions at home and abroad as it looks to double its revenue to AED 10 bn over the next three years, CEO Falal Ameen told the National. The IHC-backed firm is targeting food, distribution and farming assets across the...
Friday, 23 May 2025
ALSO ON OUR RADAR | EnterpriseAM UAE
AD Ports explores green energy storage JV with Rotterdam’s Advario
... Dhabi investment firm Innovest Holding and US-based clean fuel firm Oxon Technologies are partnering on a clean fuel investment program to be implemented in the UAE and the US, according to a press release. The partnership: The ten-year program, backed by USD 400 mn in investments, will see Innovest buy Oxon Tech’s products to export from the UAE. The two sides will also construct...
Wednesday, 21 May 2025
EARNINGS WATCH | EnterpriseAM UAE
Ghitha, Easy Lease see net income fall in 1Q
GHITHA-Abu Dhabi-based food manufacturerGHITHA saw its net income fall 98% y-o-y to AED 52.6 mn in 1Q 2025, while operating income rose 6.4% YoY to AED 76.8 mn, according to an interim financial statement (pdf). The company reported a 7.2% rise in revenues y-o-y to AED 1.3 bn, and said that it focused on cost efficiencies during the quarter, as well as improving its produ...
Monday, 28 April 2025
M&A WATCH | EnterpriseAM UAE
ADX-listed Invictus acquires Mozambique’s Merec Industries
... Invictus Investment — a unit of Ghitha — has acquired Mozambique’s largest milling company Merec Industries ’ parent company Stratton Africa Holding, according to a press release (pdf). The size and terms of the agreement were not disclosed, but the company bought the shares from Amethis Fund II and Merec Financial. The rationale: “The acquisition is expected to add s...
Tuesday, 4 February 2025
EARNINGS WATCH | EnterpriseAM UAE
Ghitha Holding sees AED 2.7 bn net income in 2024
Abu Dhabi-based food manufacturer Ghitha Holding reported AED 2.7 bn in net income last year, up from AED 43.2 mn in 2023, according to the company’s financials (pdf). The International Holding Company (IHC) subsidiary’s revenue rose by 8.9% y-o-y to AED 5 bn during the same period. The company attributed this top-line performance to its “organic expansion, s...
Monday, 3 February 2025
DIVESTMENT WATCH | EnterpriseAM UAE
Adia subsidiary sells its 69% stake in UK shopping center Liverpool ONE
... existing malls.”OTHER M&A NEWS-Ghitha Holding subsidiaryGhitha Aeroinvest terminated its agreement to acquire a 44% stake in Turkish air freight cargo company MNG Airlines, according to a disclosure (pdf) to the ADX. The transaction was valued at USD 211.2 mn, and was part ofGhitha’s plans to diversify its asset portfolio and strengthen logis...
Wednesday, 18 December 2024
PLANET FINANCE | EnterpriseAM UAE
In a trade war, there are no winners, cautions China following Trump’s tariff pledges
... Stallions Group (+14.9%) and Hily Holding (+11.5%).In the red: Al Khaleej Investment (-9.9%), Ghitha Holding (-4.7%) and Lulu Retail (-4.2%). Over on the DFM, the index rose 1.3% on turnover of AED 597.6 mn. Meanwhile, Nasdaq Dubai closed up 1.7%.CORPORATE ACTIONS-Methaq Takaful Ins. approved a capital increase through its shareholders, during a general a...
Wednesday, 27 November 2024
PLANET FINANCE | EnterpriseAM UAE
Traders still see the Fed slashing rates at next meeting despite US inflation edging up
... is down 2.2% YTD.In the green: Ghitha Holding (+3.1%), Abu Dhabi Ship Building (+2.8%) and Bank of Sharjah (+2.4%).In the red: Umm Al Qaiwain General Investments (-3.9%), Abu Dhabi National Building Materials (-3.5%) and Al Dar Properties (-3.4%). Over on the DFM, the index rose 0.7% on turnover of AED 784.3 mn. Meanwhile, Nasdaq Dubai closed up 2.0%.CORPORATE ACTIONS...
Thursday, 14 November 2024
EARNINGS WATCH | EnterpriseAM UAE
More earnings from Ghitha, NMDC, and Emirates Driving
... with CNBC (watch, runtime: 7:31).GHITHA HOLDING-Abu Dhabi-based food manufacturerGHITHA HOLDING’s net income declined by 78.2% y-o-y to AED 42.5 mn in 3Q 2024, according to its financial statements (pdf). The company’s revenue slightly declined by 2% y-o-y to AED 1.2 bn in this quarter. On a 9M basis, net income climbed by 3011% to AED 2.8 bn...
Monday, 28 October 2024
PLANET FINANCE | EnterpriseAM UAE
Global economy on the edge: High stakes at the World Bank / IMF annual meetings
... (-3.3%), Bank of Sharjah (-3.0%) and Ghitha Holding (-2.5%). Over on the DFM, the index rose 0.2% on turnover of AED 233.4 mn. Meanwhile Nasdaq Dubai closed down 0.02%.
Monday, 21 October 2024
PLANET FINANCE | EnterpriseAM UAE
Faced with a lack of clarity on stimulus package, Chinese equity boom stumbles
... (+6.2%).In the red: Aram Group (-9.9%), Ghitha Holding (-3.3%), and AD Ports (2.8%). Over on the DFM, the index closed up 0.8% on turnover of AED 403.9 mn. Meanwhile Nasdaq Dubai closed down 1.7%.
Wednesday, 9 October 2024
PLANET FINANCE | EnterpriseAM UAE
US banks reaped USD 1 tn in windalls from high interest rate environment
... and Ooredoo (+7.2%).In the red: Ghitha Holding (-10.0%), Apex Investment (-8.9%) and Aram Group (-4.5%). Over on the DFM, the index rose 0.3% on turnover of AED 699.4 mn. Meanwhile Nasdaq Dubai closed up 0.2%.CORPORATE ACTIONS-Al Ansari Financial Services’ board of directors approved an interim dividend distribution of AED 157.5 mn, equivalent to 2.1 fils per share, a...
Monday, 23 September 2024
PLANET FINANCE | EnterpriseAM UAE
Islamic bond market may see shift from asset-based to equity-like sukuk
... (+15%), Apex Investment (+10.6%) and Ghitha Holding (+3.7%).In the red: Aram Group (-9.8%), Foodco National Foodstuff (-9.3%) and Palms Sports (-7.1%). Over on the DFM, the index rose 0.3% on turnover of AED 330.3 mn. Meanwhile Nasdaq Dubai closed up 0.2%.CORPORATE ACTIONS-#1- Taqa rebrands subsidiaries and merges distribution arms into one unit: The Abu Dhabi Nationa...
Tuesday, 17 September 2024
