Yalla, are you getting ready for a big post-vaccine-rollout party? Abu Dhabi’s holding company ADQ has submitted an offer to Abu Dhabi National Hotels Company (ADNH) to merge with Abu Dhabi National Exhibitions Company (ADNEC). After the transaction is complete, ADQ will own about 54.9% of ADNH.
The merger would result in the creation of one of the largest hospitality/ events/ catering powerhouses in the region. The new entity would comprise of 28 hotels (that means over 6,700 rooms in total), three exhibition centers, and several catering companies, with an overall valuation of about $5.5b. Let's get down!