UAE’s e& boosts Vodafone stake, Alpha Dhabi buys Greek brand

 UAE’s e& boosts Vodafone stake, Alpha Dhabi buys Greek brand

The UAE-based telecom major e&, earlier known as Etisalat, has increased its stake in the UK’s Vodafone Group to 11%, according to a stock exchange filing.

Earlier this year, e& had acquired a 10% stake in Vodafone for $4.4 billion and had become its biggest shareholder.

e&, which is government-owned and was recently rebranded, didn’t disclose any financial details of the latest transaction.

“The rationale of e&’s investment in Vodafone is unchanged from the original investment, as announced on 14 May 2022, which is to gain significant exposure to a world leader in connectivity and digital service at an attractive valuation,” the company said.

Alpha Dhabi

The UAE-based Alpha Dhabi Holding has acquired a stake in Nammos, a Greek lifestyle and food and beverage brand, for an undisclosed amount.

The deal, whose financial details were not disclosed, is a part of a joint venture agreement between Alpha Dhabi and Monterock International, an investment firm that focuses on the hospitality as well as food and beverage sectors.

The transaction is part of Alpha Dhabi’s plan to build a global portfolio of luxury, lifestyle, food and beverage, and entertainment brands, it said in a filing on the Abu Dhabi Securities Exchange.

Headquartered in Mykonos, Nammos has presence in Dubai, Cyprus and Qatar and has plans to open new venues in London, Cannes and Abu Dhabi.

According to Hamad Salem Al Ameri, CEO and Managing Director of Alpha Dhabi, there is a strong potential for the expansion of the company’s platform into the F&B and wider lifestyle space.

“[These two markets have] strong fundamentals globally, driven by the return to travel and leisure post COVID-19.


State-owned Abu Dhabi National Oil Co, or TAQA, has paid just over a billion dollars in cash for its stake in Abu Dhabi Future Energy Company (Masdar), following an agreement to become a shareholder alongside Abu Dhabi National Oil Company (ADNOC) and Mubadala Investment Company in the clean energy company.

TAQA said Thursday that the three-way deal will see it acquire a 43% controlling stake in Masdar’s renewables business with Mubadala retaining a 33% interest, and ADNOC owning the remaining 24%.

The new entity will be a global renewable energy powerhouse that consolidates the renewable energy and green hydrogen efforts of TAQA, Mubadala, and ADNOC under a refreshed single Masdar brand, it added.

“The largest share of this capacity will come from wind and solar technologies. Beyond its initial goals, the company aspires to develop in excess of 200 GW of renewable energy, reinforcing its position as a world leader in the renewable energy sector,” TAQA said in the statement.

Masdar, which will now be the UAE’s exclusive vehicle for green energy projects, has set a target of growing to at least 100GW of renewable energy capacity globally by 2030.

Aman Malik

error: Content is protected !!
The Capital Quest