International Holding Company (IHC), the largest listed company in the UAE, is merging three of its portfolio companies to create a Dh120 billion ($33 billion) energy and consumer sector-focused investment platform.
The merger will bring together IHC’s three flagship companies 2PointZero, Multiply Group, and Ghitha Holding into a single, “next‑generation investment powerhouse” that will create one of Abu Dhabi’s largest listed investment companies, IHC said.
The merged entity will be renamed the 2PointZero Group and will continue to be listed on the Abu Dhabi Securities Exchange (ADX), uniting three platforms across sectors that are essential to future global growth.
The transaction will strengthen IHC’s position as a leader in sustainable value creation.
The merged platform will focus on energy and consumer sectors, leveraging on rising energy demand, AI innovation, global consumer growth, and expanding food security needs to propel its business, IHC said.
“This merger reflects IHC’s continued commitment to building globally competitive platforms that drive sustainable value for Abu Dhabi and beyond,” Sheikh Tahnoon bin Zayed, chairman of IHC, said.
“By combining three of our most strategic entities, we advance a structure that enhances long‑term growth, scalability and resilience across vital global sectors.”
The transaction also reinforces IHC’s role as an “architect of transformation, harnessing AI and dynamic value networks to shape industries of tomorrow”, Sheikh Tahnoon, who is also Deputy Ruler of Abu Dhabi and National Security Adviser, said.
Transaction details
The combination of three companies will be executed through share‑swap whereby Multiply Group will issue about 23.36 billion new shares to acquire, 21.60 billion shares of 2PointZero – 100 of their stake – from IHC-related entities. It will acquire 1.77 billion shares of Ghitha Holding, which equals 83.9 per cent of IHC related entities in the company.
The share capital of Multiply will increase from current Dh2.8 billion to Dh8.64 billion. Once the deal is completed, the outstanding shares of the merged entity will stand at 34.56 billion and its combined asset base will surge to Dh120 billion, according to IHC.
Subject to shareholder and regulatory approvals, the deal is expected to be completed by mid‑November, the company added.
Push for scale
The IHC deal is the latest among a string of merger deals in the region. Banks and financial institutions, energy and utility companies, healthcare operators, as well as technology and artificial intelligence investment companies in recent years, have combined their balance sheets to gain scale amid intensifying competition.
IHC said the formation of 2PointZero underscores IHC’s long-term vision to create dynamic value networks through innovation, scale, and disciplined growth. The move reinforces the company's role as a "catalyst of enduring value creation for the UAE and the global economy", it added.
“This milestone transaction marks the next evolution of Multiply," group chairman Syed Basar Shueb said.
"Combining complementary businesses within a unified structure accelerates our expansion, drives operating efficiency, and strengthens diversified shareholder returns.
The move, Mr Shueb said, said will enable the company to scale high‑growth verticals and apply AI‑driven performance strategies that redefine value creation across sectors.
Multiply Group, one of Abu Dhabi’s largest investment platforms, currently operates across five consumer-focused sectors: mobility, media, apparel, packaging, and beauty. The company, which has achieved more than five times revenue expansion in the past four years, also manages a significant energy portfolio.
It's portfolio of investments include a major stake in Emirates Driving Company, energy and utilities major Taqa, renewable energy company Kalyon Enerji. The company has also expanded in Europe with Dh5.6 billion acquisition of a majority stake in Spain’s apparel giant Tendam and a stake in Italy’s ISEM, a packaging manufacturer serving clients such as LVMH, KIKO, Gucci, and L’Oréal.
The portfolio of 2PointZero, which was set up by IHC last year with Dh100 billion in assets, includes firms across energy, mining, and financial services sectors including El Sewedy Electric in Egypt and EHC International. In the financial sector, 2PointZero’s holdings include Lunate, Beltone Holding, Chimera Investment, Alpheya, Citadel, and Sagasse.
The portfolio of Ghitha Holding, which is central to the UAE's food security agenda, include Al Ain Farms, Al Ajban Poultry, Abu Dhabi Vegetable Oil Company, Al Hashemeya, Asmak, Marmum, Mirak Group, Zee Stores, and Royal Horizon. Through Apex Investments, the company also maintains its investment in the energy sector.
Rationale for the deal
IHC said the merged entity brings together the "complementary strengths" of three investment platforms, which allows it to build a vertically integrated energy platform positioned to deliver sustainable growth and long-term value.
It will hold "leading positions across key consumer categories that anchor everyday life and economic activity, with operations spanning more than 85 countries," IHC said.
With synchronised expansion in energy demand and consumer spending globally, worldwide energy usage is forecast to climb by more than 20 per cent by 2050. More than one billion new middle-class consumers are projected by 2030, adding an additional $2.4 trillion in annual consumption.
The capital strength of the new entity will allow it to capture these opportunities, IHC said.
"An investment approach built for resilience, geographic reach, and scale, paired with continuing strategic acquisitions, will unlock new cost, digital, and operational synergies for long-term value creation," it added.
Investment Spree
IHC, the private sector bellwether and a major part of Abu Dhabi's efforts to diversity its non-oil business sectors, has been on an investment and acquisition spree as it aims to double its asset base to $218 billion by 2030.
The company in May announced the launch of RIQ, a $1 billion global reinsurance platform, which it developed in partnership with BlackRock, the world's largest asset manager.
This year, it also announced the acquisition of Maseera, a microfinance platform in Egypt, with a commitment to invest $1 billion over the next years to support its expansion.
IHC has also shown interest in expanding its portfolio assets in India and fast-growing economies in Central Asia, as well as the US.
Earlier this month, the Abu Dhabi conglomerate agreed to acquire a 43.5 per cent stake in India’s Sammaan Capital in a $1 billion deal.
The company is also an investor in Indian snack-maker Haldiram's, along with Alpha Wave Capital, PwC.
It also has $60 billion worth of investments in the US, including in companies like SpaceX and Ardent Healthcare.
IHC intends to increase its investment in the US by an additional $40-$50 billion in the next decade, Mr Shueb told The National in May.
Some of the UAE companies under IHC umbrella include Abu Dhabi's largest listed developer Aldar Properties, Modon Properties, Adnec Group, Presight, Al Seer Marine and NMDC Group.
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Tips on buying property during a pandemic
Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.
While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.
While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar.
Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.
Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.
Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities.
Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong.
Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
MATCH INFO
Uefa Champions League semi-final, first leg
Barcelona v Liverpool, Wednesday, 11pm (UAE).
Second leg
Liverpool v Barcelona, Tuesday, May 7, 11pm
Games on BeIN Sports
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
Sri Lanka-India Test series schedule
1st Test July 26-30 in Galle
2nd Test August 3-7 in Colombo
3rd Test August 12-16 in Pallekele
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
Tori Amos
Native Invader
Decca
More from Rashmee Roshan Lall
Martin Sabbagh profile
Job: CEO JCDecaux Middle East
In the role: Since January 2015
Lives: In the UAE
Background: M&A, investment banking
Studied: Corporate finance
Newcastle United 0 Tottenham Hotspur 2
Tottenham (Alli 61'), Davies (70')
Red card Jonjo Shelvey (Newcastle)
UAE currency: the story behind the money in your pockets
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%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Adil%20El%20Arbi%20and%20Bilall%20Fallah%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EWill%20Smith%2C%20Martin%20Lawrence%2C%20Joe%20Pantoliano%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203.5%2F5%3C%2Fp%3E%0A
%3Cp%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.thenationalnews.com%2Fbusiness%2Feconomy%2Fislamic-economy-consumer-spending-to-increase-45-to-3-2tn-by-2024-1.936583%22%20target%3D%22_self%22%3EGlobal%20Islamic%20economy%20to%20grow%203.1%25%20to%20touch%20%242.4%20trillion%20by%202024%3C%2Fa%3E%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.thenationalnews.com%2Fbusiness%2Feconomy%2Fuk-economy-plunges-into-worst-ever-recession-after-record-20-4-contraction-1.1062560%22%20target%3D%22_self%22%3EUK%20economy%20plunges%20into%20worst-ever%20recession%20after%20record%2020.4%25%20contraction%3C%2Fa%3E%3C%2Fp%3E%0A%3Cp%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.thenationalnews.com%2Fbusiness%2Feconomy%2Fislamic-economy-consumer-spending-to-increase-45-to-3-2tn-by-2024-1.936583%22%20target%3D%22_self%22%3EIslamic%20economy%20consumer%20spending%20to%20increase%2045%25%20to%20%243.2tn%20by%202024%3C%2Fa%3E%3C%2Fp%3E%0A
Conservative MPs who have publicly revealed sending letters of no confidence
- Steve Baker
- Peter Bone
- Ben Bradley
- Andrew Bridgen
- Maria Caulfield
- Simon Clarke
- Philip Davies
- Nadine Dorries
- James Duddridge
- Mark Francois
- Chris Green
- Adam Holloway
- Andrea Jenkyns
- Anne-Marie Morris
- Sheryll Murray
- Jacob Rees-Mogg
- Laurence Robertson
- Lee Rowley
- Henry Smith
- Martin Vickers
- John Whittingdale
Results
2pm: Maiden (PA) Dh 40,000 (Dirt) 1,200m, Winner: AF Thayer, Tadhg O’Shea (jockey), Ernst Oertel (trainer).
2.30pm: Maiden (PA) Dh 40,000 (D) 1,200m, Winner: AF Sahwa, Nathan Crosse, Mohamed Ramadan.
3pm: Handicap (PA) Dh 40,000 (D) 1,000m, Winner: AF Thobor, Szczepan Mazur, Ernst Oertel.
3.30pm: Handicap (PA) Dh 40,000 (D) 2,000m, Winner: AF Mezmar, Szczepan Mazur, Ernst Oertel.
4pm: Sheikh Hamdan bin Rashid Al Maktoum Cup presented by Longines (TB) Dh 200,000 (D) 1,700m, Winner: Galvanize, Nathan Cross, Doug Watson.
4.30pm: Handicap (PA) Dh 40,000 (D) 1,700m, Winner: Ajaj, Bernardo Pinheiro, Mohamed Daggash.
McLaren GT specs
Engine: 4-litre twin-turbo V8
Transmission: seven-speed
Power: 620bhp
Torque: 630Nm
Price: Dh875,000
On sale: now
UAE currency: the story behind the money in your pockets
THE CARD
2pm: Maiden Dh 60,000 (Dirt) 1,400m
2.30pm: Handicap Dh 76,000 (D) 1,400m
3pm: Handicap Dh 64,000 (D) 1,200m
3.30pm: Shadwell Farm Conditions Dh 100,000 (D) 1,000m
4pm: Maiden Dh 60,000 (D) 1,000m
4.30pm: Handicap 64,000 (D) 1,950m
RESULTS
2pm: Handicap (PA) Dh 40,000 (Dirt) 1,200m
Winner: AF Senad, Nathan Crosse (jockey), Kareem Ramadan (trainer)
2.30pm: Maiden (PA) Dh 40,000 (D) 1,000m
Winner: Ashjaan, Fabrice Veron, Eric Lemartinel.
3pm: Maiden (PA) Dh 40,000 (D) 1,700m
Winner: Amirah, Conner Beasley, Ali Rashid Al Raihe.
3.30pm: Handicap (PA) Dh 40,000 (D) 1,700m
Winner: Jap Al Yaasoob, Szczepan Mazur, Irfan Ellahi.
4pm: Sheikh Mansour bin Zayed Al Nahyan Cup Prestige Handicap (PA) Dh 100,000 (D) 1,200m
Winner: Jawaal, Fernando Jara, Majed Al Jahouri.
4.30pm: Handicap (TB) Dh 40,000 (D) 1,200m
Winner: Manhunter, Ryan Curatolo, Mujeeb Rahman.
AGUERO'S PREMIER LEAGUE RECORD
Apps: 186
Goals: 127
Assists: 31
Wins: 117
Losses: 33
Day 1 results:
Open Men (bonus points in brackets)
New Zealand 125 (1) beat UAE 111 (3)
India 111 (4) beat Singapore 75 (0)
South Africa 66 (2) beat Sri Lanka 57 (2)
Australia 126 (4) beat Malaysia -16 (0)
Open Women
New Zealand 64 (2) beat South Africa 57 (2)
England 69 (3) beat UAE 63 (1)
Australia 124 (4) beat UAE 23 (0)
New Zealand 74 (2) beat England 55 (2)
How to join and use Abu Dhabi’s public libraries
• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.
• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.
• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.
• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.
• For more information visit the library network's website.
Scoreline
Australia 2-1 Thailand
Australia: Juric 69', Leckie 86'
Thailand: Pokklaw 82'
List of UAE medal winners
Gold
Faisal Al Ketbi (Open weight and 94kg)
Talib Al Kirbi (69kg)
Omar Al Fadhli (56kg)
Silver
Zayed Al Kaabi (94kg)
Khalfan Belhol (85kg)
Zayed Al Mansoori (62kg)
Mouza Al Shamsi (49kg women)
Bronze
Yahia Mansour Al Hammadi (Open and 94kg)
Saood Al Hammadi (77kg)
Said Al Mazroui (62kg)
Obaid Al Nuaimi (56kg)
Bashayer Al Matrooshi (62kg women)
Reem Abdulkareem (45kg women)
PREMIER LEAGUE FIXTURES
All times UAE ( 4 GMT)
Saturday
West Ham United v Tottenham Hotspur (3.30pm)
Burnley v Huddersfield Town (7pm)
Everton v Bournemouth (7pm)
Manchester City v Crystal Palace (7pm)
Southampton v Manchester United (7pm)
Stoke City v Chelsea (7pm)
Swansea City v Watford (7pm)
Leicester City v Liverpool (8.30pm)
Sunday
Brighton and Hove Albion v Newcastle United (7pm)
Monday
Arsenal v West Bromwich Albion (11pm)
LIGUE 1 FIXTURES
All times UAE ( 4 GMT)
Friday
Nice v Angers (9pm)
Lille v Monaco (10.45pm)
Saturday
Montpellier v Paris Saint-Germain (7pm)
Bordeaux v Guingamp (10pm)
Caen v Amiens (10pm)
Lyon v Dijon (10pm)
Metz v Troyes (10pm)
Sunday
Saint-Etienne v Rennes (5pm)
Strasbourg v Nantes (7pm)
Marseille v Toulouse (11pm)
In Search of Mary Shelley: The Girl Who Wrote Frankenstein
By Fiona Sampson
Profile
UAE currency: the story behind the money in your pockets
What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
