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ADQ And ADNEC Group Enter Into Definitive Agreements To Acquire A 40.5 Percent Stake In TMG Holding's Hospitality Business In Egypt

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Egypt's Historic Hotel Sell-Off Raises Concerns Over Heritage and Debt Crisis

In a bid to confront its debt crisis, Egypt has embarked on a historic sale of its cherished assets, including the iconic Marriott Mena House hotel nestled near the Great Pyramids of Giza. Financed by Emirati investors, this USD 800 million (EGP 24 billion) deal marks a significant shift in Cairo's strategy to navigate its

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TMG Buys 51% Of Legacy Hotels

TMG Buys 51% Of Legacy Hotels
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TMG buys 51% of Legacy Hotels - Dailynewsegypt

TMG buys 51% of Legacy Hotels - Dailynewsegypt
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ADQ and ADNEC Group enter into definitive agreements to acquire a 40.5 percent stake in TMG Holding's hospitality business in Egypt

DQ, an Abu Dhabi-based investment and holding company, and ADNEC Group (“ADNEC”) today announced the signing of definitive agreements for the strategic acquisition of a 40.5 percent stake in Egypt-based Talaat Moustafa Group Holding’s (“TMG Holding”) hospitality arm, ICON Group (“ICON”) through a capital increase. ADQ and ADNEC will invest through a special purpose vehicle, with 49 percent equity ownership by ADQ and 51 percent equity ownership by ADNEC.

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International Business: ADQ and ADNEC acquire stake in Egypt firm

International Business: ADQ and ADNEC acquire stake in Egypt firm
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UAE Companies Acquire 40% of ICON to Operate Historic Hotels in Egypt

UAE Companies Acquire 40% of ICON to Operate Historic Hotels in Egypt
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ADQ, ADNEC Group Sign Definitive Agreements To Acquire 40.5 Percent Stake In TMG Holding's Hospitality Business In Egypt #AbuDhabi

ADQ, ADNEC Group Sign Definitive Agreements To Acquire 40.5 Percent Stake In TMG Holding’s Hospitality Business In Egypt, News, Abu Dhabi City Guide

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UAE Business: Abu Dhabi groups buy 40pc stake in TMG's hospitality unit

ADQ, an Abu Dhabi-based investment and holding company, and

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ADQ and Adnec to acquire a 40.5% stake in Egypt-based hospitality firm

Group owns Four Seasons Cairo, Kempinski Nile Hotel Cairo, Four Seasons Sharm El Sheikh

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