Multiply Group, an Abu Dhabi-based investment holding company that invests in and operates businesses globally, today (October 15) announced that it has won approval from its board to acquire two major companies - 2PointZero and Ghitha Holding - through a share swap transaction.
2PointZero is a transformational investment company with scalable assets in energy, mining and financial services, serving as an AI enabler and energy transition accelerator driving a smarter, more sustainable future, while Ghitha Holding is a leading conglomerate spanning agriculture, food production and distribution operations that play a vital role in food security, said the Emirati group in a statement.
Together, these businesses represent complementary strengths across the energy and consumer sectors, two fundamental pillars of every economy, powering everyday life and advancing the global transition toward cleaner, smarter systems.
Under the proposed terms, Multiply Group would offer shares to acquire the two firms followed by the issuance of new shares to complete the transaction. The transaction is currently under review and remains subject to shareholder and regulatory approvals, it stated.
According to Multiply Group, the transaction will be executed through a share swap, with the company issuing approximately 23.36 billion new shares to acquire 2PointZero and Ghitha Holding, increasing its share capital from AED2.8 billion to AED8.64 billion.
Upon completion, the merged entity will comprise 34.56 billion shares, marking a significant expansion of Multiply Group’s capital base, said the company in its statement.
The transaction is expected to enhance operational and investment efficiency across Multiply Group’s portfolio by consolidating complementary assets under a single listed platform, it added.
Group Chairman Syed Basar Shueb said: "This transaction represents a natural evolution of our portfolio strategy, designed to optimise scale and strengthen the platforms we have built over the past years."
"Multiply’s offer to acquire 2PointZero and Ghitha reflects our strategic approach to value creation and our long-term focus on building globally competitive investment entities that deliver sustainable shareholder value," he stated.
Group CEO and Managing Director Samia Bouazza said: "This strategic merger is more than a consolidation of balance sheets - it’s the convergence of vision, purpose, capital, megathemes, and exceptional teams."
"Together, we are forming an AED120 billion balanced and diversified investment group spanning energy, food, logistics, packaging, mining, apparel, media, mobility and beauty. Through these companies, spread across 85 countries, we aim to serve 1 billion human beings, globally," she stated.
"Our focus is to grow our bottom line both organically and inorganically, to unlock value through AI, and to deliver consistent, long-term returns for our shareholders," stated Bouazza.
This strategic acquisition via reorganization remains subject to shareholder and regulatory approvals, with additional details to be disclosed following completion of the review process, she added.-TradeArabia News Service
