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Abu Dhabi group ADQ said it has entered into a deal to monetise a 8.6% stake in Taqa to a set of prominent investors such as Multiply Group and Abu Dhabi Pension Fund. This comes in line with its strategy of targeting a balanced, diversified portfolio.
ABU DHABI, 13th September, 2022 (WAM) -- ADQ, an Abu Dhabi-based investment and holding company, today announced that it has entered into an agreement to monetise a stake of 8.6 percent in Abu Dhabi National Energy Company PJSC (TAQA) to Multiply Group PJSC, Abu Dhabi Pension Fund and other prominent investors. TAQA is a diversified utilities and energy group headquartered in Abu Dhabi, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA). TAQA has significant investments in power and water generation, transmission and distribution...
TAQA operates in 11 countries globally
Abu Dhabi group ADQ said it has entered into a deal to monetise a 8.6% stake in Taqa to a set of prominent investors such as Multiply Group and Abu Dhabi Pension Fund. This comes in line with its strategy of targeting a balanced, diversified portfolio.
Multiply Group, a technology-focused holding company, has reported AED462 million ($126 million) in net profit for the first half (H1) of 2022 on the strength of its investments and performance of its subsidiaries.