UAE’s ADNH Catering takes control of Saudi firm

Abu Dhabi’s ADNH Catering has taken over management of Saudi Arabian catering company Compass Arabia after raising its stake in the firm from 30 to 50 per cent. ADNH Catering — a subsidiary of Abu Dhabi National Hotels — said the deal marks a “new era of growth and expansion” in Saudi Arabia.

- BY MANOJ NAIR

Starting this month, Compass Arabia’s performance will be consolidated into ADNH Catering’s financial results. The remaining 50 per cent of Compass Arabia is held by Al Rushaid Petroleum Investment Company.

Second acquisition