Abu dhabi: Multiply Group, an investment holding company based in Abu Dhabi, has revealed its plans to acquire 2PointZero and Ghitha Holding through a share swap transaction. The Board of Multiply Group has approved the proposal, which involves offering shares to acquire the two companies and issuing new shares to complete the transaction. This proposed acquisition is currently under review and requires the approval of shareholders and regulatory bodies.
According to Emirates News Agency, 2PointZero is engaged in energy, mining, and financial services and is recognized as an AI enabler and energy transition accelerator. On the other hand, Ghitha Holding operates in agriculture, food production, and distribution, playing a significant role in ensuring food security. The acquisition is expected to bring together complementary strengths across the energy and consumer sectors, essential components for advancing global transitions toward more sustainable systems.
The transaction aims to enhance Multiply Group’s operational and investment efficiency by consolidating complementary assets under a single listed platform. Syed Basar Shueb, Chairman of Multiply Group, stated that the transaction represents a natural progression in their portfolio strategy, aimed at optimizing scale and strengthening the platforms built over the years. He emphasized the strategic approach to value creation and the long-term focus on building globally competitive investment entities that deliver sustainable shareholder value.
Samia Bouazza, Group CEO and Managing Director of Multiply Group, highlighted that the merger is more than just a balance sheet consolidation. She described it as the convergence of vision, purpose, capital, megathemes, and exceptional teams, forming a diversified investment group worth AED120 billion. The group will span various sectors, including energy, food, logistics, packaging, mining, apparel, media, mobility, and beauty. The companies involved aim to serve 1 billion people globally, with a focus on organic and inorganic growth, unlocking value through AI, and delivering consistent, long-term returns for shareholders.
The transaction will involve Multiply Group issuing approximately 23.36 billion new shares to acquire 2PointZero and Ghitha Holding, expanding its share capital from AED2.8 billion to AED8.64 billion. Once completed, the merged entity will consist of 34.56 billion shares, significantly expanding Multiply Group’s capital base. This strategic acquisition, pending shareholder and regulatory approvals, is part of a reorganization plan, with further details to be released following the review process.