Subsidiaries of two prominent Abu Dhabi-based investment firms have divested stakes in Modon Holding PSC for a combined consideration of over $7 billion L’imad Holding Company, a company wholly owned by the Abu Dhabi government.

Following the transactions, L’imad Holding owns 84.76% of Modon Holding shares.

International Holding Co.’s subsidiary, IHC Real Estate Holding LLC, sold its 33.28% stake in Modon for AED 20.94 billion ($5.7 billion). 

In a separate disclosure on the Abu Dhabi Securities Exchange, Alpha Dhabi announced that its wholly-owned subsidiary, Sublime Commercial Investment SP LLC, sold its 8.50% stake in Modon for AED 5.35 billion ($1.45 billion).

Modon Holding, formerly Q Holding PSC, invests in companies, develops and manages real estate projects, and operates educational, hospital, and healthcare initiatives.

(Writing by Brinda Darasha; editing by Seban Scaria)  

brinda.darasha@lseg.com