Abu Dhabi-listed holding company ADQ has offered to buy a 49% stake in the construction arm of Alpha Dhabi Holding.

A disclosure to Abu Dhabi Securities Exchange did not give an offer value for the stake in Alpha Dhabi Construction Holding Group.

The statement said the board believes the sale is in the best interests of shareholders and that a general assembly will be called to approve it subject to regulatory approvals.

(Writing by Imogen Lillywhite; editing by Daniel Luiz)