Multiply Group eyes big share-swap deal

INVESTMENT FIRM TO ACQUIRE, MERGE 2POINTZERO, GHITHA

- BY JUSTIN VARGHESE

Multiply Group, the Abu Dhabi-based investment holding company, announced plans to acquire 2PointZero and Ghitha Holding through a share swap, marking one of its most significant portfolio moves to date.

The proposal, approved by the Board of Directors, involves issuing new shares that will increase Multiply's share capital from Dh2.8 billion to Dh8.64 billion, creating a combined entity valued at about Dh120 billion. The transaction remains subject to shareholder and regulatory approvals.

A diversified platform

The acquisition brings together complementary businesses across energy, mining, financial services, food, logistics, mobility, packaging, apparel, media, and beauty, forming a diversified platform operating in 85 countries.