IHC unit Alpha Dhabi acquires 95% stake in Emirates Gateway

Completion of deal marks latest acquisition of Abu Dhabi's newly listed firm

  
An investor looks up at electronic boards displaying stock information at the ADX Abu Dhabi Securities Exchange stock market. Image used for illustrative purpose.

An investor looks up at electronic boards displaying stock information at the ADX Abu Dhabi Securities Exchange stock market. Image used for illustrative purpose.

REUTERS/Ben Job

UAE’s Alpha Dhabi Holding, a subsidiary of International Holding Company (IHC), has completed its acquisition deal with a security services firm based in Abu Dhabi, according to a bourse filing. 

The transaction, which includes the takeover of 95 percent of the shares of Emirates Gateway Security Services’ capital, marks the latest acquisition of the IHC unit since its listing on the Abu Dhabi Securities Exchange (ADX) in June 2021. 

Emirates Gateway was established in Abu Dhabi more than a decade ago, operating in the “field of security guarding and protection services”, Alpha Dhabi said. 

The investment company, which has businesses in healthcare, hospitality, construction, industrials and healthcare, been on an acquisition spree since early this year. 

Last March, Alpha Dhabi acquired a 12.1 percent stake in Aldar Properties, Abu Dhabi’s biggest listed developer.  

This was followed by another deal last May, when Alpha Dhabi fully acquired investment firm Murban, whose hospitality assets include St. Regis at Saadiyat, Al Wathba Luxury Collection Desert Resorts, Cheval Blanc Randheli resort in the Maldives and Etihad International Hospitality.  

(Writing by Cleofe Maceda; editing by Daniel Luiz) 

Cleofe.maceda@refinitiv.com 

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© ZAWYA 2021

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