Sunday, October 3, 2021 – 8:22 PM
ABU DHABI, 3rd October / WAM/ The International Holding Company has signed a strategic partnership agreement with the Holding Company (ADQ) to acquire a 50% stake in its subsidiary Eltizam Asset Management through the issuance of new shares and a total cash contribution of 111.6 million dirhams.
Established in 2009, Eltizam Asset Management is one of the leading physical asset management companies in the UAE and the GCC region.
The company provides its clients in the region with a full range of strategic management and real estate services; It has recently acquired Inspire Integrated, which specializes in infrastructure and real estate solutions, facilities management, and project delivery services.
Ahmed Ibrahim, Head of Corporate Communications at IHC, said: “This transaction is an important step in our endeavors to strategically increase our focus on our core business sectors. We are pleased to conclude this agreement through a model that reflects the success and growth of Commitment as part of IHC’s portfolio alongside Together with a reliable partner who in turn will provide great value to the shareholders.
Roque Sulabareta, Director of Investments at ADQ, said: “Eltizam Asset Management has a proven track record and has the cumulative value of the ADQ portfolio.
He added: We have a shared vision with the International Holding Company to enable Commitment to reach its full potential in its ambition as a leading facility and property management company across the region.
WAM/ Ahmed Al Nuaimi/ Mustafa Badr Al Din