Arab News, Thursday, Jun 10, 2021 | Shawwal 29, 1442
Abu Dhabi’s ADQ offers to combine two hospitality groups with $5.4bn in assets
Emirates: The Abu Dhabi sovereign fund ADQ has submitted an offer to
merge two hospitality companies and form a larger entity with total assets of
The Abu Dhabi National Hotels company (ADNH) said it received the offer from ADQ
to combine it with one of the fund’s units, the Abu Dhabi National Exhibitions
ADQ has been linked to a number of deals in recent months as the conglomerate
expands its holdings as part of a broader push by Abu Dhabi to expand into
Upon completion of the planned deal, the group would have 28 owned and operated
hotels, three exhibition centers in Abu Dhabi, Al Ain, and London, as well as
catering companies and food and beverage outlets.
ADNH will issue to ADQ a convertible instrument that would convert into 1.221
billion ordinary shares in the capital of ADNH at a price of 3.93 dirhams per
The merger will create “one of the largest hospitality, events, and catering
powerhouses in the region,” ADQ said in a statement.